RBI/2004-05/339
UBD (PCB).Cir. 34/16.51.00/2004-05
January 10, 2005
The Chief Executive Officers of
All Primary(urban) Co-operative Banks
Dear Sir/Madam,
Names as appearing in the Certificate of Registration and
the Licence - use of- Primary (urban) Co-operative Banks (UCBs)
Please refer to our circular UBD.No.BR/11/16.51.00/98-99
dated December 11, 1998 and subsequent circular UBD.CO.BR.No.538/16.51.00/2000-01
dated May 21, 2001 on the above subject advising UCBs to display only their
full name in the form in which it appears in the Certificate of Registration
issued by the Registrar of Co-operative Societies (RCS) and the licence granted
by Reserve Bank of India.
2. It is observed that some of the banks
are not adhering to the above instructions in totality. We reiterate that the
usage of name in its abridged form does not depict the correct status of the
UCBs and is creating confusion in the minds of general public regarding their
status.
3. We advise that it is mandatory for every
bank to display its full name in any stationery item, publicity material, name
board, etc. and the same must conform to the name as it is appearing in the
Certificate of Registration issued by RCS of the respective state and the licence
granted to the bank by Reserve Bank of India . Further, banks are prohibited
from using any abridged form of their name. Accordingly, it may be ensured that
even when using a logo, if name is sought to be displayed, it is only the full
name of the bank that is displayed with the logo. In no case may the banks use
abridged version of the name.
4. Primary (urban) co-operative banks are
advised to ensure that all advertisement/s, stationery items, boards, etc. not
correctly depicting their names in accordance with the Certificate of Registration
& the licence issued to them, are withdrawn forthwith. A compliance report
in this regard may be furnished to the concerned Regional Office of Reserve
Bank of India on or before March 31, 2005.
5. These instructions are issued under
Section 35A of the Banking Regulation Act, 1949(AACS) and any contravention
of or non-compliance with the same will attract penalties under the relevant
provisions of the Act.
6. Please acknowledge receipt to the concerned
Regional Office of Reserve Bank of India.
Yours faithfully,
(N.S.Vishwanathan)
Chief General Manager