The Global News Hub for Co-operatives
18 May '13

Content about Deposit account

Top Story

Global NewsCosmos Bank launches Long Term Deposits Scheme

The Cosmos Co-operative Bank , an UCB headquartered in Pune  has announced  the launch of Long Term (Subordinated) Deposits Scheme-2.  Cosmos bank happens to be  the fastest growing bank in the cooperative sector in the country The scheme is  effective from January 1, 2013 catering to the growing business needs and strengthening the capital base of the Bank. The Reserve Bank of India permits only financially strong Urban Cooperative Banks to raise Long Term Deposits. The RBI has allowed ...

(0)Agriculture, Co-operatives, Global Affairs, Development, Financial, Social Enterprise, Global News, Society

Top Story

Global NewsRestrictions on Bhuj Mercantile Co-op Bank continue

Bhuj Mercantile Co-operative Bank (Gujarat) shall not grant any loan without the prior approval in writing from the Reserve Bank of India. The urban cooperative bank can also not renew any loans and advances. RBI has ordered it certain dos and don’ts in its order dated April 02,212. The validity of directions have been extended up to April 2, 2013. RBI has however, allowed the each depositor to withdraw a sum not exceeding Rupees seventy thousand including  Rs three thousand already allowed ...

(0)Agriculture, Co-operatives, Global Affairs, Development, Social Enterprise, Global News, Society

Top Story

Global NewsFixed Deposits: RBI eases norms for Co-op Banks

It is reliably learnt that the apex bank has allowed the cooperative banks to work out their own norms for conversion of fixed deposits.  The move is aimed at enabling the banks to improve their asset liability management. Presently a customer is at liberty to withdraw his fixed deposit anytime he so desires and he does not have to suffer any loss because of his decision. The absence of punishment is being seen as an encouragement of mobilizing of deposits by customers. Experts say the RBI ...

(0)Agriculture, Co-operatives, Global Affairs, Development, Social Enterprise, Global News, Society

Top Story

Global NewsCooperative Bank CEO siphons off fund

A strange case of cheating by Beed District Central Cooperative bank has come to fore in which the CEO and his predecessor have been arrested. People used to deposit their electricity bills to the BDCCB which would later deposit the amount to a nationalized bank in the account of Maharashtra State Electricity Distribution Company.

(0)Agriculture, Co-operatives, Global Affairs, Development, Democracy, Financial, Global News, Society