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Press Releases
സെപ്റ്റം 08, 2021
RBI imposes monetary penalty on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated September 08, 2021, imposed a monetary penalty of ₹40,000 (Rupees Forty Thousand only) on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with regulatory directions issued by RBI contained in its directive on “Membership of Credit Information Companies (CICs)” and the provisions of Credit Information Companies Rules, 2006 (CIC Rules). This penalty has been imposed in exercise of powe
The Reserve Bank of India (RBI) has, by an order dated September 08, 2021, imposed a monetary penalty of ₹40,000 (Rupees Forty Thousand only) on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with regulatory directions issued by RBI contained in its directive on “Membership of Credit Information Companies (CICs)” and the provisions of Credit Information Companies Rules, 2006 (CIC Rules). This penalty has been imposed in exercise of powe
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സെപ്റ്റം 07, 2021
RBI imposes monetary penalty on The Sutex Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated September 07, 2021, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed i
The Reserve Bank of India (RBI) has, by an order dated September 07, 2021, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed i
സെപ്റ്റം 06, 2021
RBI imposes monetary penalty on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated September 06, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai (the bank) for contravention of/non-compliance with directions issued by RBI on Know Your Customers (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking
The Reserve Bank of India (RBI) has imposed, by an order dated September 06, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai (the bank) for contravention of/non-compliance with directions issued by RBI on Know Your Customers (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking
സെപ്റ്റം 03, 2021
RBI imposes monetary penalty on The Akola District Central Co-operative Bank Limited, Akola (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated September 03, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Akola District Central Co-operative Bank Limited, Akola, Maharashtra (the bank) for non-compliance with certain provisions of the directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions
The Reserve Bank of India (RBl) has imposed, by an order dated September 03, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Akola District Central Co-operative Bank Limited, Akola, Maharashtra (the bank) for non-compliance with certain provisions of the directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions
സെപ്റ്റം 03, 2021
RBI imposes monetary penalty on Bombay Mercantile Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹50 lakh (Rupees fifty lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions dated March 05, 2018 and April 11, 2018 issued by RBI under the Supervisory Action Framew
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹50 lakh (Rupees fifty lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions dated March 05, 2018 and April 11, 2018 issued by RBI under the Supervisory Action Framew
സെപ്റ്റം 02, 2021
Reserve Bank of India imposes monetary penalty on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat) (the bank) for non-compliance with directions issued by RBI contained in the Circular on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ dated April 29, 2003. This penalty has been imposed in exercise of p
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat) (the bank) for non-compliance with directions issued by RBI contained in the Circular on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ dated April 29, 2003. This penalty has been imposed in exercise of p
സെപ്റ്റം 01, 2021
Reserve Bank of India imposes monetary penalty on Axis Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2021, a monetary penalty of ₹25 lakh (Rupees Twenty five lakh only) on Axis Bank Limited (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. The penalty has been imposed in exercise of powers vested in RBI under provisions of section 47A(1)(c) read with section 4
The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2021, a monetary penalty of ₹25 lakh (Rupees Twenty five lakh only) on Axis Bank Limited (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. The penalty has been imposed in exercise of powers vested in RBI under provisions of section 47A(1)(c) read with section 4
സെപ്റ്റം 01, 2021
RBI imposes monetary penalty on Prathamik Shikshak Sahakari Bank Ltd., Satara, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated September 1, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prathamik Shikshak Sahakari Bank Ltd., Satara (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
The Reserve Bank of India (RBI) has imposed, by an order dated September 1, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prathamik Shikshak Sahakari Bank Ltd., Satara (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
ഓഗ 31, 2021
RBI imposes monetary penalty on The Bihar State Co-operative Bank Ltd., Patna
The Reserve Bank of India (RBI) has, by an order dated August 30, 2021, imposed a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on The Bihar State Co-operative Bank Ltd., Patna (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) contained in its circular on “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RB
The Reserve Bank of India (RBI) has, by an order dated August 30, 2021, imposed a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on The Bihar State Co-operative Bank Ltd., Patna (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) contained in its circular on “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RB
ഓഗ 27, 2021
RBI imposes monetary penalty on New India Co-operative Bank Ltd., Mumbai, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on New India Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI contained in the circular on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism’ dated May 19, 2016. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wi
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on New India Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI contained in the circular on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism’ dated May 19, 2016. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wi
ഓഗ 27, 2021
RBI imposes monetary penalty on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with direction issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i)
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with direction issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i)
ഓഗ 26, 2021
RBI imposes monetary penalty on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC) Directions, 2016”. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with cl
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC) Directions, 2016”. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with cl
ഓഗ 26, 2021
RBI imposes monetary penalty on The Muslim Co-operative Bank Limited, Pune, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Muslim Co-operative Bank Limited, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Ban
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Muslim Co-operative Bank Limited, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Ban
ഓഗ 26, 2021
RBI imposes monetary penalty on Jijamata Mahila Sahakari Bank, Pune, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Jijamata Mahila Sahakari Bank, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Jijamata Mahila Sahakari Bank, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
ഓഗ 25, 2021
RBl imposes monetary penalty on the Delhi Nagrik Sehkari Bank Limited, New Delhi
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers ve
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers ve
ഓഗ 25, 2021
RBl imposes monetary penalty on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and
ഓഗ 24, 2021
RBI imposes monetary penalty on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated August 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions
The Reserve Bank of India (RBI) has, by an order dated August 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions
ഓഗ 23, 2021
RBI imposes monetary penalty on Dhanlaxmi Bank Ltd., Thrissur, Kerala
The Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2021, a monetary penalty of ₹27.50 lakh (Rupees Twenty Seven Lakh and Fifty Thousand only) on Dhanlaxmi Bank Ltd., Thrissur, Kerala (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with RBI Circular on 'The Depositor Education and Awar
The Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2021, a monetary penalty of ₹27.50 lakh (Rupees Twenty Seven Lakh and Fifty Thousand only) on Dhanlaxmi Bank Ltd., Thrissur, Kerala (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with RBI Circular on 'The Depositor Education and Awar
ഓഗ 23, 2021
RBl imposes monetary penalty on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated August 18, 2021, a monetary penalty of ₹20.00 lakh (Rupees Twenty Lakh only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF).
The Reserve Bank of India (RBl) has imposed, by an order dated August 18, 2021, a monetary penalty of ₹20.00 lakh (Rupees Twenty Lakh only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF).
ഓഗ 13, 2021
RBI imposes monetary penalty on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25.00 Lakh (Rupees Twenty-Five Lakh only) on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wit
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25.00 Lakh (Rupees Twenty-Five Lakh only) on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wit
ഓഗ 13, 2021
RBI imposes monetary penalty on Jalna People’s Co-operative Bank Limited, Jalna, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 13, 2021, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jalna People’s Co-operative Bank Limited, Jalna, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the
The Reserve Bank of India (RBl) has imposed, by an order dated August 13, 2021, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jalna People’s Co-operative Bank Limited, Jalna, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the
ഓഗ 13, 2021
RBI imposes monetary penalty on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty five lakh only) on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty five lakh only) on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the
ഓഗ 12, 2021
RBI imposes monetary penalty on Village Financial Services Limited, Kolkata
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Village Financial Services Ltd, Kolkata (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Village Financial Services Ltd, Kolkata (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of
ഓഗ 12, 2021
RBI imposes monetary penalty on Cooperatieve Rabobank U.A.
The Reserve Bank of India (RBI) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹1 Crore (Rupees One Crore only) on Cooperatieve Rabobank U.A. (the bank) for contravention of provisions of Section 11 (2) (b) (ii) of the Banking Regulation Act, 1949 (the Act), and Reserve Bank directions on ‘Sections 17(1) and 11(2)(b)(ii) of Banking Regulation Act, 1949- Transfer to Reserve Funds’ dated September 23, 2000. The penalty has been imposed in exercise
The Reserve Bank of India (RBI) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹1 Crore (Rupees One Crore only) on Cooperatieve Rabobank U.A. (the bank) for contravention of provisions of Section 11 (2) (b) (ii) of the Banking Regulation Act, 1949 (the Act), and Reserve Bank directions on ‘Sections 17(1) and 11(2)(b)(ii) of Banking Regulation Act, 1949- Transfer to Reserve Funds’ dated September 23, 2000. The penalty has been imposed in exercise
ഓഗ 11, 2021
RBI imposes monetary penalty on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
The Reserve Bank of India (RBl) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
ഓഗ 11, 2021
RBI imposes monetary penalty on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad, Gujarat
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ read with ‘Loans and advances to directors etc - directors as surety/guarantors- Clarification’ and ‘Placement
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ read with ‘Loans and advances to directors etc - directors as surety/guarantors- Clarification’ and ‘Placement
ഓഗ 10, 2021
RBI imposes monetary penalty on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors – UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sect
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors – UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sect
ഓഗ 10, 2021
RBI imposes monetary penalty on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under th
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under th
ഓഗ 10, 2021
RBI imposes monetary penalty on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 09, 2021, a monetary penalty of ₹10 lakh (Rupees ten lakh only) on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Loans and Advances to Directors, Relatives and Firms/Concerns in which they are Interested; Supervisory action framework issued by RBI under section 35 A and section 36 read with
The Reserve Bank of India (RBI) has imposed, by an order dated August 09, 2021, a monetary penalty of ₹10 lakh (Rupees ten lakh only) on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Loans and Advances to Directors, Relatives and Firms/Concerns in which they are Interested; Supervisory action framework issued by RBI under section 35 A and section 36 read with
ഓഗ 04, 2021
RBI imposes monetary penalty on Nagarik Sahakari Bank Limited, Bhiwandi, Thane, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 04, 2021, a monetary penalty of ₹7 lakh (Rupees Seven lakh only) on Nagarik Sahakari Bank Limited, Bhiwandi, Thane, Maharashtra (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory / Other Restrictions- UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sectio
The Reserve Bank of India (RBI) has imposed, by an order dated August 04, 2021, a monetary penalty of ₹7 lakh (Rupees Seven lakh only) on Nagarik Sahakari Bank Limited, Bhiwandi, Thane, Maharashtra (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory / Other Restrictions- UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sectio
ഓഗ 03, 2021
RBI imposes monetary penalty on Hewlett-Packard Financial Services (India) Private Ltd.
The Reserve Bank of India (RBI) has, by an order dated August 03, 2021, imposed a monetary penalty of ₹6 lakh (Rupees Six Lakh only) on Hewlett-Packard Financial Services (India) Private Ltd, Bengaluru (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ read with RBI Directive
The Reserve Bank of India (RBI) has, by an order dated August 03, 2021, imposed a monetary penalty of ₹6 lakh (Rupees Six Lakh only) on Hewlett-Packard Financial Services (India) Private Ltd, Bengaluru (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ read with RBI Directive
ഓഗ 02, 2021
RBI imposes monetary penalty on The Janalaxmi Co-operative Bank Ltd., Nashik, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated July 29, 2021, imposed a monetary penalty of ₹50.35 lakh (Rupees fifty lakh and thirty-five thousand only) on The Janalaxmi Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of power
The Reserve Bank of India (RBI) has, by an order dated July 29, 2021, imposed a monetary penalty of ₹50.35 lakh (Rupees fifty lakh and thirty-five thousand only) on The Janalaxmi Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of power
ഓഗ 02, 2021
RBl imposes monetary penalty on the Noida Commercial Co-operative Bank Ltd. Ghaziabad, Uttar Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated July 30, 2021, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Noida Commercial Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh (the bank) for contravention of sections 23 and 35 A read with section 56 of the Banking Regulation Act, 1949 and regulations on ‘Exposure Norms’ and norms on ‘Board of Directors-UCB’ in relation to director related loans. This penalty has been imposed in exercis
The Reserve Bank of India (RBl) has imposed, by an order dated July 30, 2021, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Noida Commercial Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh (the bank) for contravention of sections 23 and 35 A read with section 56 of the Banking Regulation Act, 1949 and regulations on ‘Exposure Norms’ and norms on ‘Board of Directors-UCB’ in relation to director related loans. This penalty has been imposed in exercis
ജൂലൈ 30, 2021
RBI imposes monetary penalty on Innespeta Cooperative Urban Bank Ltd., Rajahmundry, East Godavari District, Andhra Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated July 29, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Innespeta Cooperative Urban Bank Ltd., Rajahmundry, East Godavari District, Andhra Pradesh (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Board of Directors – UCBs dated July 1, 2015. This penalty has been imposed in exercise of powers veste
The Reserve Bank of India (RBI) has imposed, by an order dated July 29, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Innespeta Cooperative Urban Bank Ltd., Rajahmundry, East Godavari District, Andhra Pradesh (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Board of Directors – UCBs dated July 1, 2015. This penalty has been imposed in exercise of powers veste
ജൂലൈ 28, 2021
RBI imposes monetary penalty on Axis Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5.00 crore (Rupees Five crore only) on Axis Bank Limited (the bank) for contravention of / non-compliance with certain provisions of directions issued by RBI on ‘Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer’ dated May 9, 2019, ‘Cyber Security Framework in Banks’ dated June 2, 2016, ‘Reserve Bank of India (F
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5.00 crore (Rupees Five crore only) on Axis Bank Limited (the bank) for contravention of / non-compliance with certain provisions of directions issued by RBI on ‘Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer’ dated May 9, 2019, ‘Cyber Security Framework in Banks’ dated June 2, 2016, ‘Reserve Bank of India (F
ജൂലൈ 28, 2021
RBI imposes monetary penalty on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar (the bank) for contravention of the directions issued by RBI on Board of Directors - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Ac
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar (the bank) for contravention of the directions issued by RBI on Board of Directors - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Ac
ജൂലൈ 28, 2021
RBI imposes monetary penalty on Alibag Co-operative Urban Bank Limited, Raigad, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5 lakh (Rupees Five lakh only) on Alibag Co-operative Urban Bank Limited, Raigad (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Bankin
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5 lakh (Rupees Five lakh only) on Alibag Co-operative Urban Bank Limited, Raigad (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Bankin
ജൂലൈ 27, 2021
RBI imposes monetary penalty on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana, Gujarat
The Reserve Bank of India (RBI) has, by an order dated July 27, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of section 47 A (1
The Reserve Bank of India (RBI) has, by an order dated July 27, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of section 47 A (1
ജൂലൈ 26, 2021
RBI imposes monetary penalty on The Balasore Cooperative Urban Bank Limited, Balasore, Odisha
The Reserve Bank of India (RBI) has, by an order dated July 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Balasore Cooperative Urban Bank Limited, Balasore, Odisha (the bank) for contravention of the direction issued by RBI as contained in Master Circular on “Exposure Norms and Statutory/Other Restrictions-UCBs”, dated July 01, 2015. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
The Reserve Bank of India (RBI) has, by an order dated July 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Balasore Cooperative Urban Bank Limited, Balasore, Odisha (the bank) for contravention of the direction issued by RBI as contained in Master Circular on “Exposure Norms and Statutory/Other Restrictions-UCBs”, dated July 01, 2015. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
ജൂലൈ 20, 2021
RBI imposes monetary penalty on Melur Co-operative Urban Bank Ltd., Madurai District, Tamil Nadu
The Reserve Bank of India (RBI) has imposed, by an order dated July 20, 2021 a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Melur Co-operative Urban Bank Ltd. (No.A 330), Melur, Madurai District, Tamil Nadu (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Board of Directors – UCBs dated July 1, 2015. The penalty has been imposed on the bank in exercise of powers ves
The Reserve Bank of India (RBI) has imposed, by an order dated July 20, 2021 a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Melur Co-operative Urban Bank Ltd. (No.A 330), Melur, Madurai District, Tamil Nadu (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Board of Directors – UCBs dated July 1, 2015. The penalty has been imposed on the bank in exercise of powers ves
ജൂലൈ 16, 2021
RBI imposes monetary penalty on Tripura State Co-operative Bank Ltd., Agartala
The Reserve Bank of India (RBI) has, by an order dated July 15, 2021, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Tripura State Co-operative Bank Ltd., Agartala (the bank) for non-compliance with regulatory directions issued by RBI contained in its Directive on “Membership of Credit Information Companies (CICs)”. This penalty has been imposed in exercise of powers vested in RBI under clause (iii) of sub-section (1) of section 25 of the Cred
The Reserve Bank of India (RBI) has, by an order dated July 15, 2021, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Tripura State Co-operative Bank Ltd., Agartala (the bank) for non-compliance with regulatory directions issued by RBI contained in its Directive on “Membership of Credit Information Companies (CICs)”. This penalty has been imposed in exercise of powers vested in RBI under clause (iii) of sub-section (1) of section 25 of the Cred
ജൂലൈ 15, 2021
Reserve Bank of India imposes monetary penalty on Udyam Vikas Sahakari Bank Limited, Pune
The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Udyam Vikas Sahakari Bank Limited, Pune (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulati
The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Udyam Vikas Sahakari Bank Limited, Pune (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulati
ജൂലൈ 15, 2021
Reserve Bank of India imposes monetary penalty on Sawantwadi Urban Cooperative Bank Limited, Sindhudurg
The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2021, a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on Sawantwadi Urban Cooperative Bank Limited, Sindhudurg (the bank) for contravention of/ non-compliance with directions contained in the Supervisory Action Framework (SAF) issued by RBI under sections 35A and section 36(1) read with section 56 of the Banking Regulation Act, 1949 (the Act).This penalty has been imposed in exercise of p
The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2021, a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on Sawantwadi Urban Cooperative Bank Limited, Sindhudurg (the bank) for contravention of/ non-compliance with directions contained in the Supervisory Action Framework (SAF) issued by RBI under sections 35A and section 36(1) read with section 56 of the Banking Regulation Act, 1949 (the Act).This penalty has been imposed in exercise of p
ജൂലൈ 07, 2021
Reserve Bank of India imposes monetary penalty on fourteen Banks
The Reserve Bank of India (RBI) has imposed, by orders dated July 06, 2021, monetary penalty on fourteen banks, as detailed below, for non-compliance with certain provisions of directions issued by RBI on ‘Lending to Non-Banking Financial Companies (NBFCs)’, ‘Bank Finance to Non-Banking Financial Companies (NBFCs)’, ‘Loans and Advances – Statutory and Other Restrictions’, ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ read with the content
The Reserve Bank of India (RBI) has imposed, by orders dated July 06, 2021, monetary penalty on fourteen banks, as detailed below, for non-compliance with certain provisions of directions issued by RBI on ‘Lending to Non-Banking Financial Companies (NBFCs)’, ‘Bank Finance to Non-Banking Financial Companies (NBFCs)’, ‘Loans and Advances – Statutory and Other Restrictions’, ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ read with the content
ജൂലൈ 02, 2021
RBI imposes monetary penalty on Punjab and Sind Bank
The Reserve Bank of India (RBI) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹25.00 lakh (Rupees twenty five lakh only) on Punjab and Sind Bank (the bank) for non-compliance with certain provisions of directions issued by RBI on ‘Cyber Security Framework in Banks’ dated June 2, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banki
The Reserve Bank of India (RBI) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹25.00 lakh (Rupees twenty five lakh only) on Punjab and Sind Bank (the bank) for non-compliance with certain provisions of directions issued by RBI on ‘Cyber Security Framework in Banks’ dated June 2, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banki
ജൂലൈ 02, 2021
RBl imposes monetary penalty on the Nagar Sahkari Bank Limited, Etawah
The Reserve Bank of India (RBl) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Nagar Sahkari Bank Limited, Etawah (the bank) for contravention of section 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ .This penalty has been imposed in exercise of powers vested in RBI under the provision
The Reserve Bank of India (RBl) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Nagar Sahkari Bank Limited, Etawah (the bank) for contravention of section 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ .This penalty has been imposed in exercise of powers vested in RBI under the provision
ജൂൺ 29, 2021
RBI imposes monetary penalty on The Ahmedabad Mercantile Co-operative Bank Ltd., Ahmedabad
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹62.50 lakh (Rupees sixty-two lakh and fifty thousand only) on The Ahmedabad Mercantile Co-operative Bank Ltd., Ahmedabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹62.50 lakh (Rupees sixty-two lakh and fifty thousand only) on The Ahmedabad Mercantile Co-operative Bank Ltd., Ahmedabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of
ജൂൺ 29, 2021
RBI imposes monetary penalty on Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., Hyderabad
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹112.50 lakh (Rupees one crore twelve lakh and fifty thousand only) on Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., Hyderabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and ‘Know Your Customer’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) r
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹112.50 lakh (Rupees one crore twelve lakh and fifty thousand only) on Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., Hyderabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and ‘Know Your Customer’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) r
ജൂൺ 29, 2021
RBI imposes monetary penalty on Saraswat Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on Saraswat Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Master Circular on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on Saraswat Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Master Circular on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections
ജൂൺ 29, 2021
RBI imposes monetary penalty on SVC Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹37.50 lakh (Rupees thirty-seven lakh and fifty thousand only) on SVC Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c
The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹37.50 lakh (Rupees thirty-seven lakh and fifty thousand only) on SVC Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c
ജൂൺ 23, 2021
RBI imposes monetary penalty on Janseva Sahakari Bank Limited, Pune
The Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹ 2 lakh (Rupees Two lakh only) on Janseva Sahakari Bank Limited, Pune (the bank) for contravention of the direction issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949, taking into account the f
The Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹ 2 lakh (Rupees Two lakh only) on Janseva Sahakari Bank Limited, Pune (the bank) for contravention of the direction issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949, taking into account the f
ജൂൺ 23, 2021
RBI imposes monetary penalty on Excellent Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹4 lakh (Rupees Four lakh only) on Excellent Co-operative Bank Ltd., Mumbai (the bank) for contravention of the directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking R
The Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹4 lakh (Rupees Four lakh only) on Excellent Co-operative Bank Ltd., Mumbai (the bank) for contravention of the directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking R
ജൂൺ 23, 2021
RBI imposes monetary penalty on The Ajara Urban Co-operative Bank Ltd., Ajara, Kolhapur
The Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on The Ajara Urban Co-operative Bank Ltd., Ajara, Kolhapur (the bank) for contravention of direction issued by the RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act,
The Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on The Ajara Urban Co-operative Bank Ltd., Ajara, Kolhapur (the bank) for contravention of direction issued by the RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act,
ജൂൺ 21, 2021
RBI imposes monetary penalty on Mogaveera Co-operative Bank Limited, Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹ 12 lakh (Rupees Twelve lakh only) on Mogaveera Co-operative Bank Limited, Mumbai (the bank) for contravention of the provisions of section 26-A read with section 56 of the Act, directions issued by the RBI on Maintenance of Deposit Accounts and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisio
The Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹ 12 lakh (Rupees Twelve lakh only) on Mogaveera Co-operative Bank Limited, Mumbai (the bank) for contravention of the provisions of section 26-A read with section 56 of the Act, directions issued by the RBI on Maintenance of Deposit Accounts and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisio
ജൂൺ 21, 2021
RBI imposes monetary penalty on The Baramati Sahakari Bank Limited, Baramati, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Baramati Sahakari Bank Limited, Baramati (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory/Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regu
The Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Baramati Sahakari Bank Limited, Baramati (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory/Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regu
ജൂൺ 21, 2021
RBI imposes monetary penalty on Indapur Urban Cooperative Bank Ltd., Indapur, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹10 lakh (Rupees Ten lakh only) on Indapur Urban Cooperative Bank Ltd., Indapur (the bank) for contravention of the directions issued by the RBI on Exposure Norms and Statutory / Other Restrictions – UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Sect
The Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹10 lakh (Rupees Ten lakh only) on Indapur Urban Cooperative Bank Ltd., Indapur (the bank) for contravention of the directions issued by the RBI on Exposure Norms and Statutory / Other Restrictions – UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Sect
ജൂൺ 18, 2021
RBI imposes monetary penalty on The Manjeri Co-operative (Urban) Bank Ltd. No.1726, Manjeri, Malappuram District, Kerala
The Reserve Bank of India (RBI) has imposed, by an order dated June 17, 2021 a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Manjeri Co-operative (Urban) Bank Ltd. No.1726, Manjeri, Malappuram District, Kerala (the bank) for contravention of / non-compliance of certain provisions of the directions issued by RBI contained in the Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated July 1, 2015 an
The Reserve Bank of India (RBI) has imposed, by an order dated June 17, 2021 a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Manjeri Co-operative (Urban) Bank Ltd. No.1726, Manjeri, Malappuram District, Kerala (the bank) for contravention of / non-compliance of certain provisions of the directions issued by RBI contained in the Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated July 1, 2015 an
ജൂൺ 18, 2021
RBl imposes monetary penalty on the Parwanoo Urban Co-operative Bank Limited, Parwanoo
The Reserve Bank of India (RBl) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Parwanoo Urban Co-operative Bank Limited, Parwanoo (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD.(PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and the Master Circular
The Reserve Bank of India (RBl) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Parwanoo Urban Co-operative Bank Limited, Parwanoo (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD.(PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and the Master Circular
ജൂൺ 18, 2021
RBI imposes monetary penalty on Aman Sahakari Bank Ltd., Ichalkaranji
The Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Aman Sahakari Bank Ltd., Ichalkaranji (the bank) for contravention of the instructions contained in Supervisory Action Framework (SAF) issued by RBI under Section 36(1) read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 4
The Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Aman Sahakari Bank Ltd., Ichalkaranji (the bank) for contravention of the instructions contained in Supervisory Action Framework (SAF) issued by RBI under Section 36(1) read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 4
ജൂൺ 18, 2021
RBI imposes monetary penalty on Municipal Co-operative Bank Limited, Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Municipal Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on Maintenance of Deposit Accounts- Primary (Urban) Co-operative Banks. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the B
The Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Municipal Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on Maintenance of Deposit Accounts- Primary (Urban) Co-operative Banks. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the B
ജൂൺ 15, 2021
RBl imposes monetary penalty on the Bijnor Urban Co-operative Bank Limited, Bijnor
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Bijnor Urban Co-operative Bank Limited, Bijnor (the bank) for contravention of sections 20 and 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Guarantees, co-acceptances and letters of credit'. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Bijnor Urban Co-operative Bank Limited, Bijnor (the bank) for contravention of sections 20 and 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Guarantees, co-acceptances and letters of credit'. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
ജൂൺ 15, 2021
RBl imposes monetary penalty on the National Urban Co-operative Bank Limited, New Delhi
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the National Urban Co-operative Bank Limited, New Delhi (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested i
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the National Urban Co-operative Bank Limited, New Delhi (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested i
ജൂൺ 08, 2021
RBI imposes monetary penalty on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat
The Reserve Bank of India (RBI) has imposed, by an order dated June 08, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat (the bank) for non-compliance with RBI directions on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Depositor Education and Awareness Fund Scheme, 2014’. This penalty has been imposed in exercise of p
The Reserve Bank of India (RBI) has imposed, by an order dated June 08, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat (the bank) for non-compliance with RBI directions on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Depositor Education and Awareness Fund Scheme, 2014’. This penalty has been imposed in exercise of p
ജൂൺ 07, 2021
RBI imposes monetary penalty on Punjab National Bank
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹2 crore (Rupees Two Crore only) on Punjab National Bank (the bank) for non-compliance of certain provisions of directions issued by RBI contained in the Master Directions on “Frauds – Classification and Reporting by commercial banks and select FIs” dated July 01, 2016 and, the circular on "Creation of a Central Repository of Large Common Exposures - Across Banks” dated
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹2 crore (Rupees Two Crore only) on Punjab National Bank (the bank) for non-compliance of certain provisions of directions issued by RBI contained in the Master Directions on “Frauds – Classification and Reporting by commercial banks and select FIs” dated July 01, 2016 and, the circular on "Creation of a Central Repository of Large Common Exposures - Across Banks” dated
ജൂൺ 07, 2021
RBI imposes monetary penalty on Bank of India
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹4.00 crore (Rupees Four crore only) on Bank of India (the bank) for non-compliance with certain provisions of directions issued by RBI contained in the “Master Circular on KYC norms/AML standards/ CFT / Obligation of banks under PMLA, 2002” dated July 1, 2014, circular on “The Depositor Education and Awareness Fund Scheme, 2014 - Section 26A of Banking Regulation Act,
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹4.00 crore (Rupees Four crore only) on Bank of India (the bank) for non-compliance with certain provisions of directions issued by RBI contained in the “Master Circular on KYC norms/AML standards/ CFT / Obligation of banks under PMLA, 2002” dated July 1, 2014, circular on “The Depositor Education and Awareness Fund Scheme, 2014 - Section 26A of Banking Regulation Act,
മേയ് 28, 2021
Reserve Bank of India imposes monetary penalty on HDFC Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated May 27, 2021, a monetary penalty of ₹10.00 crore (Rupees ten crore only) on HDFC Bank Limited (the bank) for contravention of provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Act. This action is based on deficiencies in regulato
The Reserve Bank of India (RBI) has imposed, by an order dated May 27, 2021, a monetary penalty of ₹10.00 crore (Rupees ten crore only) on HDFC Bank Limited (the bank) for contravention of provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Act. This action is based on deficiencies in regulato
മേയ് 21, 2021
Reserve Bank of India imposes monetary penalty on Babaji Date Mahila Sahakari Bank Limited, Yavatmal
The Reserve Bank of India (RBl) has imposed, by an order dated May 21, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Income Recognition and Asset Classification (IRAC), Know Your Customer (KYC) and Frauds - Classification and Reporting. This penalty has been imposed in exercis
The Reserve Bank of India (RBl) has imposed, by an order dated May 21, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on Babaji Date Mahila Sahakari Bank Limited, Yavatmal, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Income Recognition and Asset Classification (IRAC), Know Your Customer (KYC) and Frauds - Classification and Reporting. This penalty has been imposed in exercis
മേയ് 20, 2021
RBI imposes monetary penalty on Daimler Financial Services India Private Limited, Pune, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated May 19, 2021, imposed a monetary penalty of ₹10 Lakh (Rupees Ten Lakh only) on Daimler Financial Services India Private Limited, Pune (the company), Maharashtra for non-compliance with certain provisions of the directions issued by RBI contained in ‘Reserve Bank Commercial Paper Directions 2017’ and ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reser
The Reserve Bank of India (RBI) has, by an order dated May 19, 2021, imposed a monetary penalty of ₹10 Lakh (Rupees Ten Lakh only) on Daimler Financial Services India Private Limited, Pune (the company), Maharashtra for non-compliance with certain provisions of the directions issued by RBI contained in ‘Reserve Bank Commercial Paper Directions 2017’ and ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reser
മേയ് 20, 2021
Reserve Bank of India imposes monetary penalty on Tamilnad Mercantile Bank Ltd
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021 imposed a monetary penalty of ₹1.00 crore (Rupees One crore only) on Tamilnad Mercantile Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Cyber Security Framework in Banks” dated June 2, 2016. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act,
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021 imposed a monetary penalty of ₹1.00 crore (Rupees One crore only) on Tamilnad Mercantile Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Cyber Security Framework in Banks” dated June 2, 2016. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act,
മേയ് 20, 2021
Reserve Bank of India imposes monetary penalty on City Union Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated May 19, 2021, a monetary penalty of ₹1 Crore (Rupees one Crore only) on City Union Bank Limited (the bank) for contravention of/non-compliance with certain provisions of the directions contained in the Reserve Bank of India (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017 and the circulars on Educational Loan Scheme and Credit Flow to Agriculture – Agricultural Loans – Waiv
The Reserve Bank of India (RBI) has imposed, by an order dated May 19, 2021, a monetary penalty of ₹1 Crore (Rupees one Crore only) on City Union Bank Limited (the bank) for contravention of/non-compliance with certain provisions of the directions contained in the Reserve Bank of India (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017 and the circulars on Educational Loan Scheme and Credit Flow to Agriculture – Agricultural Loans – Waiv
മേയ് 20, 2021
RBI imposes monetary penalty on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021, imposed a monetary penalty of ₹90 lakh (Rupees ninety lakh only) on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’, ‘Know Your Customer (KYC)’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021, imposed a monetary penalty of ₹90 lakh (Rupees ninety lakh only) on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’, ‘Know Your Customer (KYC)’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section
മേയ് 18, 2021
RBI imposes monetary penalty on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed
The Reserve Bank of India (RBl) has imposed, by an order dated May 17, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed, Maharashtra (the bank) for non-adherence/ violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46
The Reserve Bank of India (RBl) has imposed, by an order dated May 17, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed, Maharashtra (the bank) for non-adherence/ violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46
മേയ് 11, 2021
RBI imposes monetary penalty on Siddheshwar Sahakari Bank Ltd., Latur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹3.50 lakh (Rupees Three Lakh Fifty Thousand only) on Siddheshwar Sahakari Bank Ltd., Latur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Exposure Norms and Statutory/ Other Restrictions and Income Recognition and Asset Classification (IRAC) norms. This penalty has been imposed in exercise of p
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹3.50 lakh (Rupees Three Lakh Fifty Thousand only) on Siddheshwar Sahakari Bank Ltd., Latur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Exposure Norms and Statutory/ Other Restrictions and Income Recognition and Asset Classification (IRAC) norms. This penalty has been imposed in exercise of p
മേയ് 11, 2021
RBI imposes monetary penalty on Shankar Nagari Sahakari Bank Limited, Nanded, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Shankar Nagari Sahakari Bank Limited, Nanded, Maharashtra (the bank) for contravention of/non-compliance with directions issued by the RBI to Urban Co-operative Banks on Exposure Norms and Statutory/ Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Shankar Nagari Sahakari Bank Limited, Nanded, Maharashtra (the bank) for contravention of/non-compliance with directions issued by the RBI to Urban Co-operative Banks on Exposure Norms and Statutory/ Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c
മേയ് 04, 2021
Reserve Bank of India imposes monetary penalty on Balaji Instalments Limited
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹9.50 lakh (Rupees Nine lakh Fifty thousand only) on Balaji Instalments Limited, Pilibhit (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Returns (Reserve Bank) Directions, 2016’ and ‘Non-Banking Financial Companies – Acceptance of Public Deposits (Reserve Bank) Directions, 1998 (as a
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹9.50 lakh (Rupees Nine lakh Fifty thousand only) on Balaji Instalments Limited, Pilibhit (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Returns (Reserve Bank) Directions, 2016’ and ‘Non-Banking Financial Companies – Acceptance of Public Deposits (Reserve Bank) Directions, 1998 (as a
മേയ് 04, 2021
Reserve Bank of India imposes monetary penalty on Jumbo Finvest (India) Limited
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹25.50 lakh (Rupees Twenty five lakh Fifty thousand only) on Jumbo Finvest (India) Limited, Jaipur (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ and ‘Reserve Bank of India,
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹25.50 lakh (Rupees Twenty five lakh Fifty thousand only) on Jumbo Finvest (India) Limited, Jaipur (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ and ‘Reserve Bank of India,
മേയ് 03, 2021
Reserve Bank of India imposes monetary penalty on ICICI Bank Ltd.
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹3 Crore (Rupees Three Crore only) on ICICI Bank Ltd. (the bank) for contravention of certain directions issued by RBI contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 01, 2015. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹3 Crore (Rupees Three Crore only) on ICICI Bank Ltd. (the bank) for contravention of certain directions issued by RBI contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 01, 2015. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1
ഏപ്രി 29, 2021
RBI imposes monetary penalty on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated April 29, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read
The Reserve Bank of India (RBl) has imposed, by an order dated April 29, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read
ഏപ്രി 27, 2021
RBI imposes monetary penalty on Himachal Pradesh State Co-operative Bank Ltd., Shimla
The Reserve Bank of India (RBI) has, by an order dated April 27, 2021, imposed a monetary penalty of ₹40.00 Lakh (Rupees Forty Lakh only) on Himachal Pradesh State Co-operative Bank Ltd., Shimla (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and
The Reserve Bank of India (RBI) has, by an order dated April 27, 2021, imposed a monetary penalty of ₹40.00 Lakh (Rupees Forty Lakh only) on Himachal Pradesh State Co-operative Bank Ltd., Shimla (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and
ഏപ്രി 20, 2021
RBI imposes monetary penalty on Janata Sahakari Bank Limited, Gondia, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Janata Sahakari Bank Limited, Gondia, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
The Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Janata Sahakari Bank Limited, Gondia, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
ഏപ്രി 20, 2021
RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Sagar, Madhya Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Sagar, Madhya Pradesh (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of
The Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Sagar, Madhya Pradesh (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of
ഏപ്രി 20, 2021
RBI imposes monetary penalty on Dhule & Nandurbar Jilha Sarkari Nokaranchi Sahakari Bank Ltd., Dhule, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees fifty Thousand only) on Dhule & Nandurbar Jilha Sarkari Nokaranchi Sahakari Bank Ltd., Dhule, Maharashtra (the bank) for contravention of/non-compliance with directions issued by the RBI to Urban Co-operative Banks on Exposure Norms and Statutory/ Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under t
The Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees fifty Thousand only) on Dhule & Nandurbar Jilha Sarkari Nokaranchi Sahakari Bank Ltd., Dhule, Maharashtra (the bank) for contravention of/non-compliance with directions issued by the RBI to Urban Co-operative Banks on Exposure Norms and Statutory/ Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under t
ഏപ്രി 16, 2021
Reserve Bank of India imposes monetary penalty on The Mehkar Urban Co-operative Bank Ltd., Mehkar, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated April 16, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on The Mehkar Urban Co-operative Bank Ltd., Mehkar (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sectio
The Reserve Bank of India (RBl) has imposed, by an order dated April 16, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on The Mehkar Urban Co-operative Bank Ltd., Mehkar (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sectio
മാർ 31, 2021
Reserve Bank of India imposes monetary penalty on The Citizens Co-operative Bank Ltd., Rajkot (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Citizens Co-operative Bank Ltd., Rajkot (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sect
The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Citizens Co-operative Bank Ltd., Rajkot (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sect
മാർ 30, 2021
Reserve Bank of India imposes monetary penalty on Shri Janata Sahakari Bank Ltd., Halol (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Ltd., Halol (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed in exerci
The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Ltd., Halol (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed in exerci
മാർ 30, 2021
Reserve Bank of India imposes monetary penalty on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on (i) ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ read with ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’, (ii) ‘Maintenance of Sta
The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on (i) ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ read with ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’, (ii) ‘Maintenance of Sta
മാർ 23, 2021
Reserve Bank of India imposes monetary penalty on Sonata Finance Private Limited
The Reserve Bank of India (RBI) has, by an order dated March 23, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Sonata Finance Private Limited, Lucknow, Uttar Pradesh (the company), for non-compliance with certain provisions of the directions issued by RBI on ‘Pricing of Credit’ contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. This pena
The Reserve Bank of India (RBI) has, by an order dated March 23, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Sonata Finance Private Limited, Lucknow, Uttar Pradesh (the company), for non-compliance with certain provisions of the directions issued by RBI on ‘Pricing of Credit’ contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. This pena
മാർ 23, 2021
Reserve Bank of India imposes monetary penalty on Nagpur Mahanagarpalika Karmachari Sahakari Bank Ltd., Nagpur
The Reserve Bank of India (RBl) has imposed, by an order dated March 23, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Nagpur Mahanagarpalika Karmachari Sahakari Bank Ltd., Nagpur (the bank) for contravention of/ non-compliance with the directions issued by RBI on “Exposure Norms and Statutory/Other Restrictions - UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4
The Reserve Bank of India (RBl) has imposed, by an order dated March 23, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Nagpur Mahanagarpalika Karmachari Sahakari Bank Ltd., Nagpur (the bank) for contravention of/ non-compliance with the directions issued by RBI on “Exposure Norms and Statutory/Other Restrictions - UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4
മാർ 22, 2021
Reserve Bank of India imposes monetary penalty on Koyana Sahakari Bank Limited, Karad, Satara, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2021, a monetary penalty of ₹6 lakh (Rupees Six lakh only) on Koyana Sahakari Bank Limited, Karad (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulatio
The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2021, a monetary penalty of ₹6 lakh (Rupees Six lakh only) on Koyana Sahakari Bank Limited, Karad (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulatio
മാർ 22, 2021
Reserve Bank of India imposes monetary penalty on Fedbank Financial Services Limited
The Reserve Bank of India (RBI) has, by an order dated March 22, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Fedbank Financial Services Limited, Mumbai (the company) for non-compliance with certain provisions of the directions issued by the Reserve Bank of India (RBI) contained in “Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clau
The Reserve Bank of India (RBI) has, by an order dated March 22, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Fedbank Financial Services Limited, Mumbai (the company) for non-compliance with certain provisions of the directions issued by the Reserve Bank of India (RBI) contained in “Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clau
മാർ 19, 2021
RBI imposes monetary penalty on Vyavsayik evam Audhyogik Sahakari Bank Limited, Morena, Madhya Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Vyavsayik evam Audhyogik Sahakari Bank Limited, Morena, Madhya Pradesh (the bank) for contravention of/ non-compliance with the directions issued by RBI on “Exposure Norms and Statutory/Other Restrictions - UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with
The Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Vyavsayik evam Audhyogik Sahakari Bank Limited, Morena, Madhya Pradesh (the bank) for contravention of/ non-compliance with the directions issued by RBI on “Exposure Norms and Statutory/Other Restrictions - UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with
മാർ 19, 2021
RBI imposes monetary penalty on Arvind Sahakari Bank Limited, Katol, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Arvind Sahakari Bank Limited, Katol, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI on installing Off-site ATMs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regu
The Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Arvind Sahakari Bank Limited, Katol, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI on installing Off-site ATMs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regu
മാർ 18, 2021
RBI imposes monetary penalty on The Irinjalakuda Town Co-operative Bank Ltd. No.55, Irinjalakuda, Thrissur District, Kerala
The Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹50.00 lakh (Rupees fifty lakh only) on The Irinjalakuda Town Co-operative Bank Ltd. No.55, Irinjalakuda, Thrissur District, Kerala (the bank) for contravention of/non-compliance with the directions issued by RBI on “Income Recognition and Asset Classification” and on “Management of Advances – UCBs”. The penalty has been imposed on the bank in exercise of powers vested
The Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹50.00 lakh (Rupees fifty lakh only) on The Irinjalakuda Town Co-operative Bank Ltd. No.55, Irinjalakuda, Thrissur District, Kerala (the bank) for contravention of/non-compliance with the directions issued by RBI on “Income Recognition and Asset Classification” and on “Management of Advances – UCBs”. The penalty has been imposed on the bank in exercise of powers vested
മാർ 18, 2021
RBI imposes monetary penalty on Priyadarshini Urban Co-operative Bank Ltd, Adoni, Kurnool District, Andhra Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹10.00 lakh (Rupees ten lakh only) on Priyadarshini Urban Co-operative Bank Ltd, Adoni, Kurnool District, Andhra Pradesh (the bank) for contravention of / non-compliance with the directions issued by RBI on sanction of loans to Directors of the Bank, “Income Recognition and Asset Classification norms”, and “Exposure Norms and Statutory / Other restrictions – UCBs”. Thi
The Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹10.00 lakh (Rupees ten lakh only) on Priyadarshini Urban Co-operative Bank Ltd, Adoni, Kurnool District, Andhra Pradesh (the bank) for contravention of / non-compliance with the directions issued by RBI on sanction of loans to Directors of the Bank, “Income Recognition and Asset Classification norms”, and “Exposure Norms and Statutory / Other restrictions – UCBs”. Thi
മാർ 17, 2021
Reserve Bank of India imposes monetary penalty on Indore Paraspar Sahakari Bank Limited, Indore
The Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹1.00 lakh on Indore Paraspar Sahakari Bank Limited, Indore (the bank) for contravention of/ non-compliance with the directions issued by RBI on “Exposure Norms and Statutory/Other Restrictions-UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regul
The Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹1.00 lakh on Indore Paraspar Sahakari Bank Limited, Indore (the bank) for contravention of/ non-compliance with the directions issued by RBI on “Exposure Norms and Statutory/Other Restrictions-UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regul
മാർ 17, 2021
Reserve Bank of India imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh
The Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹0.50 lakh on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949, taking into
The Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹0.50 lakh on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949, taking into
മാർ 16, 2021
RBI imposes monetary penalty on State Bank of India
The Reserve Bank of India (RBI) has, by an order dated March 15, 2021, imposed a monetary penalty of ₹2 Crore (Rupees Two Crore only) on State Bank of India (the bank) for contravention of provisions of section 10 (1) (b) (ii) of the Banking Regulation Act, 1949 (the Act) and specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission. This penalty has been imposed in exercise of powers vested in RBI under the provis
The Reserve Bank of India (RBI) has, by an order dated March 15, 2021, imposed a monetary penalty of ₹2 Crore (Rupees Two Crore only) on State Bank of India (the bank) for contravention of provisions of section 10 (1) (b) (ii) of the Banking Regulation Act, 1949 (the Act) and specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission. This penalty has been imposed in exercise of powers vested in RBI under the provis
മാർ 12, 2021
RBI imposes monetary penalty on the United India Co-operative Bank Limited, Nagina
The Reserve Bank of India (RBI) has imposed, by an order dated March 10, 2021, a monetary penalty of ₹1.00 lakh on the United India Co-operative Bank Limited, Nagina (the bank) for contravention of section 27 read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into a
The Reserve Bank of India (RBI) has imposed, by an order dated March 10, 2021, a monetary penalty of ₹1.00 lakh on the United India Co-operative Bank Limited, Nagina (the bank) for contravention of section 27 read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into a
മാർ 08, 2021
Reserve Bank of India imposes monetary penalty on Walchandnagar Sahakari Bank Ltd., Pune
The Reserve Bank of India (RBI) has imposed, by an order dated March 08, 2021, a monetary penalty of Rupees Five Thousand only on Walchandnagar Sahakari Bank Ltd., Pune (the bank) for contravention of the provisions of the Credit Information Companies (Regulation) Act, 2005 (CIC Act) and RBI directions on membership of Credit Information Companies by Co-operative Banks. This penalty has been imposed in exercise of powers conferred upon RBI under the provisions of Sect
The Reserve Bank of India (RBI) has imposed, by an order dated March 08, 2021, a monetary penalty of Rupees Five Thousand only on Walchandnagar Sahakari Bank Ltd., Pune (the bank) for contravention of the provisions of the Credit Information Companies (Regulation) Act, 2005 (CIC Act) and RBI directions on membership of Credit Information Companies by Co-operative Banks. This penalty has been imposed in exercise of powers conferred upon RBI under the provisions of Sect
ഫെബ്രു 26, 2021
Reserve Bank of India imposes monetary penalty on Bank of Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated February 25, 2021, a monetary penalty of ₹2 crore on Bank of Maharashtra (the bank) for contravention of / non-compliance with certain provisions of the directions contained in Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016 and the circulars on Concurrent Audit System in Commercial Banks - Revision of RBI's Guidelines, Disclosure of customer c
The Reserve Bank of India (RBI) has imposed, by an order dated February 25, 2021, a monetary penalty of ₹2 crore on Bank of Maharashtra (the bank) for contravention of / non-compliance with certain provisions of the directions contained in Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016 and the circulars on Concurrent Audit System in Commercial Banks - Revision of RBI's Guidelines, Disclosure of customer c
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