United Commercial Co-operative Bank Ltd., Kanpur

RBI cancelled the licence of United Commercial Co-operative Bank Ltd., Kanpur on January 20, 2015. The bank can no longer conduct banking business, including accepting or repaying deposits.

The bank must stop carrying on banking business, and customers can no longer use it for deposit acceptance or repayment activities. This is a complete licensing action affecting the bank's ability to operate as a co-operative bank.

• Section 22 of the Banking Regulation Act, 1949
• Section 56 of Banking Regulation Act, 1949
• Section 5(b) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)

RBI extended the Section 35A restrictions on United Commercial Co-operative Bank Ltd., Kanpur until February 28, 2015. The bank remains subject to limits on lending, deposits, payments, and asset disposals, with a capped withdrawal facility for depositors.

The bank remains under operating restrictions through February 28, 2015, limiting core banking activities and deposit-related outflows. Depositors are affected by the Rs 1,000 per-account withdrawal cap, while the bank cannot expand lending, raise fresh liabilities, or freely use/dispose of assets unless RBI permits it.

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

RBI extended the existing directions on United Commercial Co-operative Bank Ltd., Kanpur, for another six months. The original terms remain unchanged.

The bank remains under RBI-imposed operational restrictions for the extended period ending November 30, 2014, subject to review. Customers and depositors continue to be affected by the same conditions as before, with no change to the existing terms of the directions.

RBI extended the existing Section 35A directions on United Commercial Co-operative Bank Ltd., Kanpur by six months. The order’s other terms and conditions were left unchanged.

The bank remains subject to the same RBI-imposed operating conditions through May 31, 2014. Customers and counterparties continue to operate under the existing restrictions, with only the validity period extended.

• Section 35A of the Banking Regulation Act, 1949

RBI imposed a Rs 5 lakh penalty on United Commercial Co-operative Bank Limited, Kanpur. The penalty was for reporting and disclosure lapses, including non-submission of OSS returns and non-preparation/non-submission/non-publication of statutory financial statements.

The bank must absorb the financial penalty and ensure compliance with statutory reporting and disclosure requirements going forward. The action does not impose an operating restriction, but it signals RBI scrutiny over delayed regulatory returns and financial statement publication obligations.

• Section 47 A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 27 of the Act
• Section 29 and 31 of the Act

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