Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra – Penalised


Today, a monetary penalty of Rs5.00lacs was imposed on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, by Reserve Bank of India, for  for violation of directives/guidelines of the Reserve Bank of India on loans/advances to directors, by purchasing cheques beyond Rs. 0.50 lakh pertaining to relatives of a director.

The press release can be viewed @

http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=25235

Ahmednagar district is now famous as the matrubhumi of Anna Hazare as Ralegan-Siddhi  and Hivare Bazar are in Ahmednagar.

Another distinction which Ahmednagar holds, is the establishment of The first  cooperative sugar factory in Asia at Pravara Nagar.

Ahmednagar has a long history going back  to the Mauryan era.

The place is mentioned in the reference of Mauryan Emperor Ashok (240 BC) as a hamlet neighbouring the present city and bypass between Junner and Paithan.

The town was established in 1494,  by Ahmad Nizam Shah on the site of a more ancient city, Bhingar.

Ahmednagar   District is  the Largest District in the State of Maharashtra having 5.66% of  the area of the state.The district has historical heritage.  

The District place Ahmednagar has many places of Historical importance including Ahmednagar fort where many national heroes of Indian Freedom Struggle  including Late Pandit Jawaharlal  Nehru were detained during Indian freedom movement.

“Discovery Of India” the famous book of  Pandit Jawaharlal Nehru was written by him in  Ahmednagar Fort.

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