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Home Cooperative Queries

RBI restrictions on CKP Bank

lalit by lalit
July 7, 2014
in Cooperative Queries
3
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Rajesh Satam

This is with reference to the recent restrictions imposed on CKP bank by RBI, I am sure RBI must have put similar restrictions in the past on other co operative banks.

I would like to know if such restrictions had ever been removed by rbi for any bank or all such banks were later reported sick and investors had lost money deposited in such banks.

I C Naik

Reserve Bank is to protect interests of Members of public against delinquent board members as normally that happens in Cooperative banks. If the bank management improves the working of the bank and come out of risks of deposits of members the RBI does lift restrictions. If that was not to be the Bank Licenses would be cancelled and Registrar of co-operative society would proceed towards closure and deregistration.

 

 

 

 

Tags: CKP BankCooperative QueryRBI restrictions
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Comments 3

  1. vijay gosavi says:
    12 years ago

    We all ckp bank depositers are crying. Adm.officer of RBI should
    publish a press note,stating todays position,how much amount
    recovered and bal.,when normalcy may restore.

  2. C.D.Lad says:
    11 years ago

    All the employees are still employed and get their salary at the cost of depositors as their money is being paid as salary and electricity for ACS ( which are still on) It should be stopped immediately so that the money belonging to depositors is not wasted in paying the salaries to staff who do not have any work
    Also the Administrator should publish the financial position of the Bank on monthly (if not on daily ) basis to give information to the depositors.
    CA Chandrashekhar Lad
    9920874102

  3. MAHA says:
    11 years ago

    IT IS THE HARD EARNED MONEY OF PUBLIC.WHY RBI CANT DIRECT TO REPAY BACK AT LEAST TO SR CITIZEN.BANK CAN PAY ITS EMPLOYEES,RENT OF THE BUILDING.ONLY PROBLEM IS TO TRUST WORTHY NESS IN QUESTION.
    WE LOST ALL OUR MONEY,EVEN APPLIED FOR 1LAC IN JAN 15,EMPLOYEE SAYS THEY CANT GIVE BACK A SMALL PORTION OF OUR OWN MONEY.
    ADDITIONAL PEOPLE ARE IN THE BAK AS EMP.THIS SHOULD COME TO AN END.LET THEM SALE ALL CKP PROPERTY THEN GO TO DOGS.
    THEY HAD HIGH PENALTY,HIGH INTEREST THEY COULD GIVE.IF MINISTERS HAS TAKEN FORCED LOAN EXPOSE THEIR NAME & REMOVE THEM FROM POLITICS.MODIJI CAN CLEAN INDIA IN THIS WAY.
    OUR REQUEST AT THE FAG END OF LIFE WITH INCREASED RATE OF FOOD,IT IS IMPOSSIBLE TO SURVIVE WITHOUT OUR DEPOSIT MONEY IN CKP.
    BE KIND TO US,U R NOT GIVING DONATION BUT RETURNING OUR MONEY EVEN WITHOUT INTEREST,
    CLEAR THIS JOB BY MAY15.OR IT WILL BE BLAMED TO PEOPLE WHO COULD INCREASE FOOD PRICE BY 5FOLDS.
    SALERS ARE THROWING FRUITS,VEG ,NO BUER AS SUCH.
    SO IS THE BLACK EYE OF THESE BUSINESS PEOPLE WHO HAS SPOILED OUR BEAUTYFUL INDIA.IF NORENDRA MODI FAILS TO DO SO ,HE MUST RESIN BEFORE TERM.HE WILL INCREASE MORE POLLUSION IN INDIA WHERE PEOPLE ARE VOMITING IN HOT SUN & UNHEALTY FOOD.THEY ARE ALSO FRO GUJRAT.THE HEAT IS GENERATED BY OVER USE OF CARS.EVEN A SCHOOL GIRL IS SPOILING OUR EARTH BY DRIVIND SMALL DISTANCE WHICH THE Y CAN WALK FOR HEALTH.
    INDIA CANT BE AMERICA.& EVERY THING IN US IS NOT GOOD,THEY TOO BELEAVE.

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