Large urban cooperative banks have to report exposures over 50mn rupees to a central repository within one month from the end of each quarter.
January 20, 2020Sri Guru Raghavendra Sahakara Bank is not allowed to grant or renew loans and advances, make investments, borrow funds or accept fresh deposits.
January 14, 2020Under the framework, the RBI will monitor UCBs' asset quality, profitability and capital, and initiate supervisory action when specific thresholds are breached.
January 10, 2020The 32,000-page charge sheet lays out charges against three executives from PMC Bank and two promoters of HDIL, which received about 67bn rupees in 'hidden' loans.
January 1, 2020The RBI is tightening exposure limits, mandating that a larger proportion of loans come from small borrowers, and requiring bigger UCBs to report large exposures on a quarterly basis.
December 31, 2019Following the $560mn fraud detected at PMC Bank, the RBI is ordering all cooperative banks in the country to perform their daily reporting via the new system.
October 17, 2019PMC Bank's now-suspended managing director has reportedly confessed that the bank's loan exposures went unreported for over six years.
October 2, 2019The RBI has ordered the troubled cooperative bank to cap withdrawals at 1,000 rupees per account, prompting panic, protests and promises of legal action from customers.
September 26, 2019