<p>Around 15% of all urban cooperative banks (UCBs) are reeling under losses largely due to non-performing assets and non-payment of loans. According to data from the Cooperation department, 41 urban cooperative banks were suffering losses of which seven are in the Bengaluru Urban district.</p>.<p>In contrast, only one of 21 district cooperative banks was under loss and measures were being initiated to revive it, according to the government. The details were part of a written response tabled in the Legislative Council to a question by Congress MLC U B Venkatesh.</p>.<p>Among the prominent UCBs which went bust in Bengaluru was the Sri Guru Raghavendra Sahakara Bank Niyamitha. The bank suffered losses due to a massive fraud leaving over 12,000 depositors in a lurch.</p>.<p>Other banks under loss include Amanath Cooperative Bank, Sri M Visvesvaraya Coop Bank Ltd., The Belgaum Industrial Coop Bank Ltd., Mandya City Coop Bank and the Karnataka State Industrial Coop Bank.</p>.<p>Apart from seven UCBs in Bengaluru, four women’s UCBs (one each from Kalaburagi, Mandya, Karwar and Tumakuru), one salary UCB from Bhadravathi, five from Belagavi and four from Kalaburagi feature in the list of UCBs under loss.</p>.<p>A response from cooperation minister S T Somashekar said that the Reserve Bank of India and the Cooperation Department were closely monitoring the financial conditions of these banks. “Necessary guidance is being provided by considering these banks as weak UCBs,” he said.</p>.<p>The government is also initiating civil and criminal action under relevant sections of the law if found that banks suffered losses due to misuse of funds, fraud or cheating, his reply said.</p>.<p>The district co-operative bank under loss was the Kalaburagi and Yadgir District Credit Cooperative Bank. “A revival plan is formulated to after seeking a report from NABCONS, a unit of National Bank for Rural Development (NABARD). The state government has also released funds which would allow it to secure more capital from NABARD to help its revival, according to Somashekar.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Around 15% of all urban cooperative banks (UCBs) are reeling under losses largely due to non-performing assets and non-payment of loans. According to data from the Cooperation department, 41 urban cooperative banks were suffering losses of which seven are in the Bengaluru Urban district.</p>.<p>In contrast, only one of 21 district cooperative banks was under loss and measures were being initiated to revive it, according to the government. The details were part of a written response tabled in the Legislative Council to a question by Congress MLC U B Venkatesh.</p>.<p>Among the prominent UCBs which went bust in Bengaluru was the Sri Guru Raghavendra Sahakara Bank Niyamitha. The bank suffered losses due to a massive fraud leaving over 12,000 depositors in a lurch.</p>.<p>Other banks under loss include Amanath Cooperative Bank, Sri M Visvesvaraya Coop Bank Ltd., The Belgaum Industrial Coop Bank Ltd., Mandya City Coop Bank and the Karnataka State Industrial Coop Bank.</p>.<p>Apart from seven UCBs in Bengaluru, four women’s UCBs (one each from Kalaburagi, Mandya, Karwar and Tumakuru), one salary UCB from Bhadravathi, five from Belagavi and four from Kalaburagi feature in the list of UCBs under loss.</p>.<p>A response from cooperation minister S T Somashekar said that the Reserve Bank of India and the Cooperation Department were closely monitoring the financial conditions of these banks. “Necessary guidance is being provided by considering these banks as weak UCBs,” he said.</p>.<p>The government is also initiating civil and criminal action under relevant sections of the law if found that banks suffered losses due to misuse of funds, fraud or cheating, his reply said.</p>.<p>The district co-operative bank under loss was the Kalaburagi and Yadgir District Credit Cooperative Bank. “A revival plan is formulated to after seeking a report from NABCONS, a unit of National Bank for Rural Development (NABARD). The state government has also released funds which would allow it to secure more capital from NABARD to help its revival, according to Somashekar.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
