The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹50,000 (Rupees Fifty Thousand only) on The Mansa Nagarik Sahakari Bank Ltd., Dist. Gandhinagar, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on M.S. Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The Vepar Udhyog Vikas Sahakari Bank Limited, Dist. Dahod, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Maintenance of Cash Reserve Ratio (CRR)’ and ‘Know Your Customer (KYC) norms’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 13, 2024, imposed a monetary penalty of ₹4.10 lakh (Rupees Four Lakh Ten Thousand only) on The National Central Co-operative Bank Ltd., Bettiah, Bihar (the bank) for contravention of provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and non – compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’ and ‘Master Direction - Know Your Customer (KYC) Direction, 2016’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act and section 25 of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has, by an order dated November 13, 2024, imposed a monetary penalty of ₹1.25 lakh (Rupees One Lakh Twenty Five Thousand only) on The Nawadah Central Co-operative Bank Ltd., Bihar (the bank) for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’ and ‘Know Your Customer (KYC)’ . This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 and section 25 of the Credit Information Companies (Regulation) Act, 2005

The Reserve Bank of India (RBI) has, by an order dated November 11, 2024, imposed a monetary penalty of ₹6.34 lakh (Rupees Six lakh thirty four thousand only) on The Jaynagar Mozilpur People’s Co-operative Bank Ltd., West Bengal (the bank) for non-compliance with certain directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to the Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL.

The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to the Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949

The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two lakh fifty thousand only) on The Nawanagar Co-operative Bank Ltd., Jamnagar, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are interested’ and ‘Financial Statements - Presentation and Disclosures’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 04, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Vijapur Nagarik Sahakari Bank Ltd., Vijapur, Dist. Mehsana, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Know Your Customer’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 11, 2024, imposed a monetary penalty of ₹80,000 (Rupees Eighty Thousand only) on The Gauhati Co-operative Urban Bank Limited (the bank) for non-compliance with the certain directions issued by RBI on ‘Know Your Customer (KYC)’ and ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 and section 25 of the Credit Information Companies (Regulation) Act, 2005.