The Reserve Bank of India directed on Friday primary urban cooperative banks not to make payments on cheques and other financial instruments that are over three months old, with effect from April next year. “RBI directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker’s cheques bearing that date or any subsequent date if they are presented beyond the period of three months from the date of such instrument,” the Reserve Bank ...

The Co-operative Group has defied the economic downturn by announcing a 17 per cent increase in profits for the 28 weeks ended July 25th.

The Co-operative Group has announced record half-year profits in the wake of the summer 2007 merger with United Co-operatives.