Category: Co-operative Banks

RBI imposes monetary penalty on Varachha Co-operative Bank

The Reserve Bank of India (RBI) on Monday said it has imposed a monetary penalty of Rs 1 lakh on Surat-based Varachha Co-operative Bank for contravention of directions issued by RBI on loans and advances to directors. The RBI has issued an order in this regard dated September 16, 2022. Varachha Co-operative Bank has been […]

Atul Khirwadkar, MD & CEO, Kalyan Janata Sahakari Bank elected Member of Managing Committee of IBA

B2B Infomedia: Atul Narayan Khirwadkar, MD & CEO, Kalyan Janata Sahakari Bank has been elected as Member of Managing Committee of Indian Bank’s Association(IBA). He has been elected on this prestigious post. He is currently serving as Managing Director & Chief Executive Officer of Kalyan Janata Sahakari Bank, Kalyan, Maharashtra.      

Krishnan Sankarasubramaniam takes over as Tamilnad Mercantile Bank MD & CEO

Tamilnad Mercantile Bank Ltd on Sunday said veteran banker Krishnan Sankarasubramaniam has taken over as its managing director and Chief Executive Officer with immediate effect. Sankarasubramaniam succeeds K V Rama Moorthy and his term would be for a period of three years, which has been approved by the Reserve Bank of India. Prior to taking […]

Bombay Mercantile Co-op Bank more than doubles NPA recoveries in FY22

Bombay Mercantile Co-operative Bank more than doubled its NPA recoveries to Rs 13.54 crore in the fiscal ended March 2022. In FY21, the bank’s non-performing assets (NPA) recoveries stood at Rs 6.10 crore. FY22, the bank registered a profit of Rs 2.36 crore despite the impacts of two Corona waves and their continuing after effects, […]

RBI imposes penalty on 8 cooperative banks

The Reserve Bank on Monday said it has imposed penalty on eight cooperative banks, including Rs 55 lakh on The Visakhapatnam Co-operative Bank, for deficiencies in regulatory compliances. The central bank informed about the penalties through multiple statements. A penalty of Rs 10 lakh has been imposed on Bharat Heavy Electricals Employees’ Co-operative Bank, Kailasapuram, […]

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