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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

ALL LOCAL AREA BANKS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BANK OF GUJARAT LTD.
  DELAYED SETTING UP OF LOCAL AREA BANKS   WITHDRAWN IN-PRINCIPLE APPROVAL GIVEN FOR SETTING UP OF LOCAL AREA BANKS

21-JAN-1999 		 
2
History of entity/person CENTRAL GUJARAT LOCAL AREA BANK LTD.
  DELAYED SETTING UP OF LOCAL AREA BANKS   WITHDRAWN IN-PRINCIPLE APPROVAL GIVEN FOR SETTING UP OF LOCAL AREA BANKS

22-JUL-2000 		 
3
History of entity/person LOCAL AREA BANK OF KONGUNADU LTD.
  DELAYED SETTING UP OF LOCAL AREA BANKS   WITHDRAWN IN-PRINCIPLE APPROVAL GIVEN FOR SETTING UP OF LOCAL AREA BANKS

25-JUL-2000 		 
4
History of entity/person MANIPAL LOCAL AREA BANK LTD.
  DELAYED SETTING UP OF LOCAL AREA BANKS   WITHDRAWN IN-PRINCIPLE APPROVAL GIVEN FOR SETTING UP OF LOCAL AREA BANKS

25-JUL-2000 		 
5
History of entity/person SOUTH GUJARAT LOCAL AREA BANK LTD.
  EXTREMELY UNSATISFACTORY FINANCIAL POSITION   MERGER WITH ANOTHER BANK

25-JUN-2004 		 
6
History of entity/person SOUTH GUJARAT LOCAL AREA BANK LTD.
  EXTREMELY UNSATISFACTORY FINANCIAL POSITION   ORDERED OF MORATORIUM

13-NOV-2003 		 
7
History of entity/person SUBHADRA LOCAL AREA BANK LTD.
  BREACHED MINIMUM NET WORTH REQUIREMENT FOR TWO QUARTERS IN FINANCIAL YEAR   CANCELLED BANKING LICENSE

24-DEC-2020 		 
8
History of entity/person VINAYAK LOCAL AREA BANK LTD.
  GENERAL CHARACTER OF MANAGEMENT WAS PREJUDICIAL TO INTEREST OF ITS PRESENT AND FUTURE DEPOSITORS   CANCELLED BANKING LICENSE

17-JAN-2002 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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