The City Co-operative Bank Ltd, Mumbai

RBI cancelled the licence of The City Co-operative Bank Ltd., Mumbai, Maharashtra, with effect from close of business on June 19, 2024. The bank can no longer conduct banking business.

The bank must stop all banking operations immediately and proceed toward winding up and liquidation. Depositors are affected because acceptance and repayment of deposits are barred, though eligible depositors may claim insurance up to ₹5 lakh under DICGC subject to the Act; RBI indicates a large portion of depositors may receive full insured amounts. The cancellation has immediate operational and regulatory consequences for the bank and its depositors.

• Section 11(1) of the Banking Regulation Act, 1949
• Section 22(3)(d) read with Section 56 of the Banking Regulation Act, 1949
• Sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949

+2 more in the case brief

RBI extended its existing directions on The City Co-operative Bank Ltd., Mumbai until July 16, 2024. The bank remains under the same operating conditions as before.

The bank must continue complying with the existing RBI directions through July 16, 2024 unless further modified or withdrawn. Depositors and other stakeholders remain subject to the same operating restrictions already in force; the release does not relax the bank's constraints or indicate RBI satisfaction with its financial position.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI has extended the existing Section 35A directions on The City Co-operative Bank Ltd., Mumbai. The directions will continue from close of business on January 16, 2024 to close of business on April 16, 2024.

The bank remains under RBI operating directions during the extension period, and the earlier restrictions continue to apply without change. Customers and counterparties are affected only to the extent of the pre-existing directions; the release does not lift any restriction or restore normal operations. The extension is effective from close of business on January 16, 2024 until close of business on April 16, 2024, unless reviewed earlier by RBI.

• Section 35A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Directions on The City Co-operative Bank Ltd., Mumbai. The restrictions continue unchanged until close of business on January 16, 2024, subject to review.

The bank remains subject to the same RBI operating constraints until January 16, 2024, unless further modified or withdrawn. Customers and counterparties continue to face any limitations already contained in the standing Directions.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Directions on The City Co-operative Bank Ltd., Mumbai until October 16, 2023. The terms remain unchanged and the restriction continues subject to review.

The bank continues to operate under the existing RBI restrictions until October 16, 2023, unless reviewed earlier. Customers and counterparties remain subject to the same operational constraints already imposed under the Directions.

• Section 35 A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended its existing Directions on The City Co-operative Bank Ltd., Mumbai until July 16, 2023. The earlier terms remain unchanged.

The bank continues to operate under the same RBI-imposed conditions until July 16, 2023, unless further reviewed or modified. Any depositors, customers, and counterparties remain subject to the existing restrictions and operational constraints in the Directions.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing directions on The City Co-operative Bank Ltd., Mumbai until April 16, 2023. The underlying terms remain unchanged.

The bank remains subject to the same operational restrictions under the RBI directions through April 16, 2023, and must continue complying with the unchanged conditions. Depositors and other stakeholders remain affected by the ongoing restrictions until the order expires or is reviewed further.

• Section 35 A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the Section 35A directions on The City Co-operative Bank Ltd., Mumbai until January 16, 2023. The existing terms and conditions remain unchanged.

The bank remains under RBI-imposed operating restrictions through January 16, 2023, subject to review. No new relief or relaxation is provided; the existing conditions continue to bind the bank and affect its operations and customers accordingly.

• Section 35 A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Directions on The City Co-operative Bank Ltd, Mumbai until 16 October 2022. The bank remains under the same conditions, unchanged.

The bank continues to operate under RBI-imposed restrictions until 16 October 2022, unless further extended or modified. The extension maintains the existing operational constraints on the cooperative bank and signals continued supervisory oversight; depositors and customers remain subject to the terms already in force.

• Section 35 A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the Section 35A directions on The City Co-operative Bank Ltd., Mumbai until July 16, 2022. The existing conditions of the directions remain unchanged.

The bank continues to operate under the existing RBI directions until July 16, 2022, subject to further review. No fresh relaxation is provided, so the bank remains under the same operational constraints and public-facing restrictions as before.

• Section 35 A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Directions on The City Co-operative Bank Ltd., Mumbai until April 16, 2022. The earlier terms remain unchanged.

The bank must continue operating under the same RBI-imposed restrictions until April 16, 2022 unless further modified or withdrawn. Customers and counterparties remain subject to the constraints already in place under the directions; no relaxation is implied by the extension.

• Section 35 A
• Section 56
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing directions on The City Co-operative Bank Ltd., Mumbai until January 16, 2022. The bank remains under the same restrictions, with no change in other terms.

The bank continues to operate under the same RBI-imposed Section 35A restrictions until January 16, 2022, subject to review. Customers and counterparties remain affected by whatever operational limits were already in force under the existing directions; no relaxation is announced in this release.

• Section 35 A
• Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing directions on The City Co-operative Bank Ltd., Mumbai until October 16, 2021. The original terms remain unchanged.

The bank continues to operate under RBI-imposed directions through October 16, 2021, unless further modified or withdrawn. Customers and counterparties remain subject to whatever operational constraints were already in place under the earlier directive.

• Section 35 A
• Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on The City Co-operative Bank Ltd., Mumbai, Maharashtra until July 16, 2021. The terms remain unchanged and subject to review.

The bank remains subject to the same RBI operating conditions until July 16, 2021, unless modified earlier on review. Customers and counterparties continue to face the existing restrictions already imposed under the Directions; no new relief or lifting is granted by this release.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI extended its existing Section 35A directions on The City Co-operative Bank Ltd., Mumbai. The restrictions continue unchanged from October 17, 2020 to January 16, 2021.

The bank remains subject to the same operational restrictions and conditions as before through January 16, 2021, unless RBI reviews and changes the order earlier. Customers and counterparties continue to be affected by the ongoing Section 35A directions.

• Section 35A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing directions on The City Co-operative Bank Ltd., Mumbai for three more months. The bank remains under the same operating conditions through October 16, 2020.

The bank remains under RBI-imposed operating constraints for the extension period, with the earlier restrictions continuing without change. Customers and counterparties are affected indirectly because the bank must continue to operate subject to the existing directions until October 16, 2020, unless RBI modifies or withdraws them earlier.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI extended its existing directions on The City Co-operative Bank Ltd., Mumbai for three more months. The earlier restrictions continue unchanged.

The bank remains subject to the existing RBI operational directions until July 16, 2020 unless modified earlier. Customers, depositors, and other stakeholders continue to face the same restrictions already imposed under the directions; no new relief is granted beyond the temporary continuation of the prior order.

• Section 35 A
• Section 56 of the Banking Regulation Act, 1949

RBI relaxed the withdrawal cap applicable to The City Co-operative Bank Ltd., Mumbai, under its existing Section 35A directions. The per-depositor withdrawal limit was raised to ₹10,000 from ₹5,000.

This release eases the bank’s existing withdrawal restriction for depositors, allowing higher access to funds than before, though the broader Section 35A directions continue to apply. Depositors with liabilities to the bank may still see amounts adjusted against borrowal accounts first.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on The City Co-operative Bank Ltd., Mumbai for six more months. The underlying restrictions remain unchanged through April 17, 2020.

The bank continues to operate under the same RBI-imposed restrictions for another six months, subject to review. Customers and counterparties remain affected by the existing conditions of the directive until April 17, 2020, unless RBI modifies or withdraws it earlier.

• Section 35A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies)

RBI extended the existing Section 35A directions on The City Co-operative Bank Ltd., Mumbai for another six months. The restrictions continue unchanged from April 18, 2019 to October 17, 2019, subject to review.

The bank remains subject to the same operating restrictions already in force, with the order continuing through October 17, 2019 unless reviewed earlier. Customers and counterparties should expect the bank to continue operating under constrained conditions until the directions are withdrawn or modified.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949

RBI partially relaxed the Section 35A directions on The City Co-operative Bank Ltd., Mumbai, by raising the depositor withdrawal limit to ₹5,000. The other conditions of the directions remained unchanged.

Depositors of The City Co-operative Bank Ltd. can withdraw up to ₹5,000 per account instead of ₹1,000, subject to set-off against any borrowal or surety liability to the bank. The bank remains under the other existing Section 35A conditions, which continue to constrain operations until further RBI modification or withdrawal.

• Section 35A
• Section 56 of the Banking Regulation Act, 1949

RBI extended the Section 35A directions on The City Co-operative Bank Ltd., Mumbai for another six months.

The bank remains subject to the existing operational directions through April 17, 2019, and the restrictions continue to govern its activities during the extension period. Public notice was also displayed at the bank’s premises.

• Section 35A read with Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies)

RBI placed The City Co-operative Bank Ltd., Mumbai, under Directions with immediate operational restrictions. Depositor withdrawals are capped at ₹1,000 per account, and the bank needs prior RBI approval for several core activities.

The bank must operate under RBI-imposed restrictions from April 17, 2018, with capped withdrawals for depositors and prior approval requirements for key balance-sheet and payment activities. Customers are affected through limits on access to funds, while the bank’s ability to raise liabilities, lend, invest, and transfer assets is curtailed until RBI modifies the directions.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act