As
per the latest available statistics, there are 372+ District Central
Cooperative Banks in India. The DCCBs
have a number of cooperative societies and cooperative banks under their umbrella.
This
publication has a number of useful information on DCCBs in
India.
A
brief history of DCCBs in India can be read here
On
31st March 2015, Reserve bank of India announced an imposition of a monetary penalty of INR 5.00 lakh (Rupees five lakh only) each on
16 Central Co-operative Banks listed below.
The
penalties have been imposed in exercise of powers vested in it under the
provisions of Section 47(A) read with Section 46 of the Banking Regulation Act,
1949 (As applicable to Co-operative Societies), for non-adherence to Know Your Customer
(KYC) norms and Anti-Money Laundering
(AML) standards.
Sr.No. Name of the Bank
1. The Dumka Central Co-operative
Bank Ltd., Dumka (Jharkhand)
2. The Gumla Simdega Central
Co-operative Bank Ltd., (Jharkhand)
3. The Dhanbad Central
Co-operative Bank Ltd., (Jharkhand)
4. The Rewari Central
Co-operative Bank Ltd., Rewari (Haryana)
5. The Mansa Central Co-operative
Bank Ltd., Mansa (Punjab)
6. The Jind Central Co-operative
Bank Ltd., (Haryana)
7. The Gopalganj Central
Co-operative Bank Ltd., Gopalganj (Bihar)
8. Ajmer Central Co-operative
Bank Ltd., Ajmer (Rajasthan)
9. Hanumangarh Kendriya Sahakari
Bank Ltd., (Rajasthan)
10. The Central Co-operative Bank
Ltd., Bikaner (Rajasthan)
11. The Sirohi Central
Co-operative Bank Ltd., Sirohi (Rajasthan)
12. The Bundi Central
Co-operative Bank Ltd., Bundi (Rajasthan)
13. The Boudh Co-operative
Central Bank Ltd., (Odisha)
14. Bhawanipatna Central
Co-operative Bank, (Odisha)
15. Cuttack Central Co-operative
Bank Ltd., (Odisha)
16. The Sambalpur District
Co-operative Central Bank Ltd., (Odisha)
As per
Standard Operating Practice, Reserve Bank of India had issued a show cause
notice to the banks in response to which the banks submitted a written reply.
After
considering the facts of the cases, the banks’ replies and personal submissions
in the matter, the Reserve Bank of India came to the conclusion that the
violations were substantiated and warranted imposition of the penalty.
