The Mudhol Co-operative Bank Limited

RBI cancelled the licence of The Mudhol Co-operative Bank Limited, Bagalkot, Karnataka. The bank must stop banking business immediately and winding-up proceedings are to follow.

The bank cannot accept deposits, repay deposits, or otherwise carry on banking business. The liquidation process is expected to begin, and depositors will rely on DICGC insurance coverage up to the statutory ceiling of ₹5 lakh per depositor, subject to applicable law. The effective cessation of banking business applies from the close of business on June 08, 2022, with the prohibition taking immediate effect upon the licence cancellation order dated June 03, 2022.

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

+5 more in the case brief

RBI extended its All Inclusive Directions on The Mudhol Co-operative Bank Limited for another three months. The existing restrictions continue unchanged until July 06, 2022, subject to review.

The bank remains under RBI-imposed operating restrictions during the extended period and must continue complying with the existing directions unchanged. The restriction continues to affect the bank’s operations until July 06, 2022, subject to review; no direct monetary penalty is imposed in this release.

• 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 existing All Inclusive Directions on The Mudhol Co-operative Bank Limited for another three months. The bank remains subject to the same operating conditions.

The bank continues to operate under RBI-imposed restrictions for the extended period, subject to review. The action affects the bank directly and, indirectly, its depositors and counterparties because the existing operational constraints remain in place until April 07, 2022 unless further modified or withdrawn.

• 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 extended the All-Inclusive Directions on The Mudhol Co-Operative Bank Limited, Bagalkot, Karnataka, for six more months. The existing restrictions continue unchanged.

The bank remains under the same RBI-imposed operational restrictions for the extended period, with the existing conditions continuing unchanged. Customers and counterparties must continue to operate within those directions until January 07, 2022, unless RBI revises them earlier.

• 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 extended the All Inclusive Directions on The Mudhol Co-Operative Bank Limited for another three months. The existing restrictions continue unchanged through July 07, 2021.

The bank remains subject to the same RBI-imposed operational restrictions for the extended period. Depositors, borrowers, and counterparties continue to be affected by the unchanged directions until July 07, 2021, unless the RBI reviews and modifies them earlier.

• Section 35 A 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 extended the All Inclusive Directions on The Mudhol Co-Operative Bank Limited for another six months. The existing operating restrictions continue unchanged.

The bank remains subject to the same RBI operating restrictions for the extension period, from October 8, 2020 to April 7, 2021, unless reviewed or modified earlier. Customers and counterparties are affected indirectly because the bank continues to operate under the existing conditions imposed by RBI.

• 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 extended the existing All Inclusive Directions on The Mudhol Co-operative Bank Limited for three more months. The bank remains subject to the same operational restrictions.

The bank must continue operating under the same RBI-imposed restrictions for the extended period. Any depositors, borrowers, and counterparties remain affected by the ongoing limitations until the directions are reviewed or further modified.

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

RBI extended the existing All Inclusive Directions on The Mudhol Co-operative Bank Limited for another three months. The bank remains under the same restrictions, unchanged.

The bank continues to operate under the same RBI-imposed restrictions for the extended period. Customers, depositors, and counterparties remain affected by the ongoing operational limitations until July 7, 2020, unless RBI reviews or changes the directions earlier.

• 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 extended the existing Section 35A directions on The Mudhol Co-operative Bank Ltd., Mudhol for six more months. The original terms remain unchanged and continue to apply subject to review.

The bank must continue to comply with the existing RBI directions through April 7, 2020 unless modified earlier on review. The restriction continues to affect the bank’s operations under the terms of the original directive, and the order remains subject to RBI review.

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

RBI continued restrictions on The Mudhol Co-operative Bank Ltd. under Section 35A. The bank remained subject to caps on withdrawals and bans on fresh lending, investments, fresh deposits, and other liabilities.

The bank must continue operating under RBI-imposed limits, with no fresh lending, no fresh deposits, no new borrowings/liabilities, and only very limited withdrawals from customer accounts. Depositors are directly affected by the withdrawal cap, while the bank’s normal business expansion and liquidity management are constrained until RBI modifies the directions.

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