Nagpur: In a significant revelation under the Right to Information (RTI) Act, activist Abhay Kolarkar has exposed the scale of regulatory actions taken by the Reserve Bank of India (RBI) over the past five years. According to information shared by the central bank, RBI cancelled the licences of 53 cooperative banks across India between 2021 and 2025.
The year-wise breakup of licence cancellations is as follows:
- 2021: 8 cooperative banks
- 2022: 12 cooperative banks
- 2023: 17 cooperative banks
- 2024: 11 cooperative banks
- 2025 (till July): 5 cooperative banks
This data points to growing instability and increased regulatory intervention in the cooperative banking sector.
Gold Rate
15 july 2025
RBI Refuses to Disclose Cybercrime and Fraud-Prone Branch Details
In his RTI application, Kolarkar had also requested details regarding cybercrimes, write-offs, and branches or banks with high fraud incidence. The RBI declined to share this information, citing unavailability of consolidated data.
However, the central bank did confirm that during the financial year 2024–25 alone, 3,148 fraud cases involving a total of Rs 644.95 crore were reported, in which bank employees were found to be complicit. These cases were formally reported to the RBI by various banks.
No Currency or Coin Withdrawn in the Last 5 Years, Except Rs 2,000 Note
In a separate response, the RBI clarified that no currency note or coin has been demonetised in the last five years. However, on May 19, 2023, the Rs 2,000 note was withdrawn from circulation, although it continued to remain legal tender. The withdrawal was reviewed on September 30, 2023, and the note still holds legal value.
This RTI response sheds light on the RBI’s increasing regulatory interventions and raises questions about transparency in the banking sector.
