Press Releases - Enforcement - RBI - Reserve Bank of India
Press Releases
Oct 03, 2022
RBI imposes monetary penalty on Nagpur Nagarik Sahakari Bank Ltd., Nagpur
The Reserve Bank of India (RBI) has, by an order dated September 27, 2022, imposed a monetary penalty of ₹18.50 lakh (Rupees Eighteen Lakh Fifty Thousand only) on Nagpur Nagarik Sahakari Bank Ltd., Nagpur (the bank) for non-compliance with RBI directions 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 conferred under section 47 A (1) (c) read with sections 46 (4
The Reserve Bank of India (RBI) has, by an order dated September 27, 2022, imposed a monetary penalty of ₹18.50 lakh (Rupees Eighteen Lakh Fifty Thousand only) on Nagpur Nagarik Sahakari Bank Ltd., Nagpur (the bank) for non-compliance with RBI directions 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 conferred under section 47 A (1) (c) read with sections 46 (4
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Oct 03, 2022
RBI imposes monetary penalty on Vasai Vikas Sahakari Bank Ltd., Vasai
The Reserve Bank of India (RBI) has, by an order dated September 29, 2022, imposed a monetary penalty of ₹20.00 lakh (Rupees Twenty lakh only) on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with RBI directions on ‘Frauds monitoring and reporting mechanism’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (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 September 29, 2022, imposed a monetary penalty of ₹20.00 lakh (Rupees Twenty lakh only) on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with RBI directions on ‘Frauds monitoring and reporting mechanism’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 (
Sep 26, 2022
RBI imposes monetary penalty on Hissar Urban Cooperative Bank Ltd., Hisar
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2022, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Hissar Urban Cooperative Bank Ltd., Hisar (the bank) for contravention of Section 35A and section 36 (1) 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 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Bank
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2022, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Hissar Urban Cooperative Bank Ltd., Hisar (the bank) for contravention of Section 35A and section 36 (1) 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 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Bank
Sep 26, 2022
RBI imposes monetary penalty on Talod Nagrik Sahkari Bank Ltd., Sabarkantha (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹0.25 lakh (Rupees Twenty Five Thousand only) on The Talod Nagarik Sahakari Bank Ltd., Sabarkantha (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’. 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 imposed, by an order dated September 22, 2022, a monetary penalty of ₹0.25 lakh (Rupees Twenty Five Thousand only) on The Talod Nagarik Sahakari Bank Ltd., Sabarkantha (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47 A (1) (
Sep 26, 2022
RBI imposes monetary penalty on The Varachha Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India (RBI) has, by an Order dated September 16, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Varachha Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification-UCBs’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47 A (1) (c) read with S
The Reserve Bank of India (RBI) has, by an Order dated September 16, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Varachha Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification-UCBs’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47 A (1) (c) read with S
Sep 26, 2022
RBI imposes monetary penalty on Shree Parswanath Co-operative Bank Ltd., Rajkot (Gujarat)
The Reserve Bank of India (RBI) has, by an Order dated September 21, 2022, imposed a monetary penalty of ₹0.25 lakh (Rupees Twenty Five thousand only) on Shree Parswanath Co-operative Bank Ltd., Rajkot (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification-UCBs’. 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 September 21, 2022, imposed a monetary penalty of ₹0.25 lakh (Rupees Twenty Five thousand only) on Shree Parswanath Co-operative Bank Ltd., Rajkot (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification-UCBs’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47 A (1
Sep 26, 2022
RBI imposes monetary penalty on Shree Botad Mercantile Co-operative Bank Ltd., Botad (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹0.25 lakh (Rupees Twenty Five Thousand only) on Shree Botad Mercantile Co-operative Bank Ltd., Botad (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’. 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 imposed, by an order dated September 22, 2022, a monetary penalty of ₹0.25 lakh (Rupees Twenty Five Thousand only) on Shree Botad Mercantile Co-operative Bank Ltd., Botad (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47 A (1
Sep 26, 2022
RBI imposes monetary penalty on The Andaman & Nicobar State Co-operative Bank Ltd
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Andaman & Nicobar State Co-operative Bank Ltd. (the bank) for contravention of/non-compliance with the provisions of Section 20 read with Section 56 of BR Act, 1949 (AACS). 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 Sect
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Andaman & Nicobar State Co-operative Bank Ltd. (the bank) for contravention of/non-compliance with the provisions of Section 20 read with Section 56 of BR Act, 1949 (AACS). 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 Sect
Sep 26, 2022
RBI imposes monetary penalty on Budge Budge Nangi Cooperative Bank Ltd., Budge Budge, West Bengal
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹10,000 (Rupees Ten thousand only) on Budge Budge Nangi Cooperative Bank Ltd., Budge Budge, West Bengal (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative 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 S
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹10,000 (Rupees Ten thousand only) on Budge Budge Nangi Cooperative Bank Ltd., Budge Budge, West Bengal (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative 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 S
Sep 26, 2022
RBI imposes monetary penalty on The Urban Co-operative Bank Ltd., Cuttack, Odisha
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹10,000/- (Rupees Ten thousand only) on The Urban Co-operative Bank Ltd., Cuttack, Odisha (the bank) for contravention of/ non-compliance with the directions issued by RBI on the Depositor Education and Awareness Fund. 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 Sect
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹10,000/- (Rupees Ten thousand only) on The Urban Co-operative Bank Ltd., Cuttack, Odisha (the bank) for contravention of/ non-compliance with the directions issued by RBI on the Depositor Education and Awareness Fund. 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 Sect
Sep 26, 2022
RBI imposes monetary penalty on Balitikuri Cooperative Bank Ltd., Balitikuri, West Bengal
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Balitikuri Cooperative Bank Ltd., Balitikuri, West Bengal (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
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Balitikuri Cooperative Bank Ltd., Balitikuri, West Bengal (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
Sep 26, 2022
RBI imposes monetary penalty on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon
The Reserve Bank of India (RBI) has, by an order dated September 20, 2022, imposed a monetary penalty of ₹50.00 lakh (Rupees Fifty Lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’ (IRAC norms), ‘Maintenance of Deposit Accounts’ and ‘Interest Rate on Deposits’. This penalty has been imposed
The Reserve Bank of India (RBI) has, by an order dated September 20, 2022, imposed a monetary penalty of ₹50.00 lakh (Rupees Fifty Lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’ (IRAC norms), ‘Maintenance of Deposit Accounts’ and ‘Interest Rate on Deposits’. This penalty has been imposed
Sep 26, 2022
RBI imposes monetary penalty on Bhatpara-Naihati Cooperative Bank Ltd., North 24 Parganas, West Bengal
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on Bhatpara-Naihati Cooperative Bank Ltd., North 24 Parganas, West Bengal (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Cooperative Bank on (i) “Exposure Norms and Statutory / Other Restrictions – UCBs” and (ii) “Management of Advances – UCBs”. This penalty has been imposed in exercise o
The Reserve Bank of India (RBI) has imposed, by an order dated September 22, 2022, a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on Bhatpara-Naihati Cooperative Bank Ltd., North 24 Parganas, West Bengal (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Cooperative Bank on (i) “Exposure Norms and Statutory / Other Restrictions – UCBs” and (ii) “Management of Advances – UCBs”. This penalty has been imposed in exercise o
Sep 19, 2022
RBI imposes monetary penalty on Dr. Ambedkar Nagarik Sahakari Bank Maryadit, Gwalior (M.P)
The Reserve Bank of India (RBI) has imposed, by an order dated September 13, 2022, a monetary penalty of ₹1.50 lakh (Rupees One lakh and Fifty Thousand only) on Dr. Ambedkar Nagarik Sahakari Bank Maryadit, Gwalior (M.P) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions and Know Your Customer (KYC). This penalty has been imposed in exercise of powers ve
The Reserve Bank of India (RBI) has imposed, by an order dated September 13, 2022, a monetary penalty of ₹1.50 lakh (Rupees One lakh and Fifty Thousand only) on Dr. Ambedkar Nagarik Sahakari Bank Maryadit, Gwalior (M.P) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions and Know Your Customer (KYC). This penalty has been imposed in exercise of powers ve
Sep 19, 2022
RBI imposes monetary penalty on Nagrik Sahakari Bank Maryadit, Vidisha (M.P.)
The Reserve Bank of India (RBI) has imposed, by an order dated September 16, 2022, a monetary penalty of ₹25,000 (Rupees Twenty Five thousand only) on Nagrik Sahakari Bank Maryadit, Vidisha (M.P.) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks 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
The Reserve Bank of India (RBI) has imposed, by an order dated September 16, 2022, a monetary penalty of ₹25,000 (Rupees Twenty Five thousand only) on Nagrik Sahakari Bank Maryadit, Vidisha (M.P.) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks 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
Sep 19, 2022
RBI imposes monetary penalty on Ravi Commercial Urban Co-operative Bank Ltd., Nagpur (Maharashtra)
The Reserve Bank of India (RBI) has imposed, by an order dated September 16, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Ravi Commercial Urban Co-operative Bank Ltd., Nagpur (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016. This penalt
The Reserve Bank of India (RBI) has imposed, by an order dated September 16, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Ravi Commercial Urban Co-operative Bank Ltd., Nagpur (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016. This penalt
Sep 12, 2022
RBI imposes monetary penalty on G S Mahanagar Co-operative Bank Limited, Mumbai
The Reserve Bank of India (RBI) has, by an order dated September 08, 2022, imposed a monetary penalty of ₹25.00 lakh (Rupees Twenty-five lakh only) on G S Mahanagar Co-operative Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulat
The Reserve Bank of India (RBI) has, by an order dated September 08, 2022, imposed a monetary penalty of ₹25.00 lakh (Rupees Twenty-five lakh only) on G S Mahanagar Co-operative Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulat
Sep 09, 2022
RBI imposes monetary penalty on Industrial Bank of Korea
The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹36 lakh (Rupees Thirty-six lakh only) on Industrial Bank of Korea (the bank) for non-compliance with certain provisions of 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 of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act
The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹36 lakh (Rupees Thirty-six lakh only) on Industrial Bank of Korea (the bank) for non-compliance with certain provisions of 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 of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act
Sep 09, 2022
RBI imposes monetary penalty on Woori Bank
The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹59.10 lakh (Rupees Fifty nine lakh and ten thousand only) on Woori Bank (the bank) for non-compliance with the directions issued by RBI on ‘Creation of a Central Repository of Large Common Exposures - Across Banks’ dated September 11, 2013 read with ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting’ dated February 13, 2014 and Res
The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹59.10 lakh (Rupees Fifty nine lakh and ten thousand only) on Woori Bank (the bank) for non-compliance with the directions issued by RBI on ‘Creation of a Central Repository of Large Common Exposures - Across Banks’ dated September 11, 2013 read with ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting’ dated February 13, 2014 and Res
Sep 09, 2022
RBI imposes monetary penalty on Indiabulls Commercial Credit Limited, New Delhi
The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹12.35 lakh (Rupees Twelve lakh and thirty-five thousand only) on Indiabulls Commercial Credit Limited, New Delhi (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)
The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹12.35 lakh (Rupees Twelve lakh and thirty-five thousand only) on Indiabulls Commercial Credit Limited, New Delhi (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)
Sep 05, 2022
RBI imposes monetary penalty on The Karnataka State Co-operative Apex Bank Ltd., Bengaluru
The Reserve Bank of India (RBI) has, by an order dated August 29, 2022, imposed a monetary penalty of ₹25.00 lakh (Rupees Twenty-Five Lakh only) on The Karnataka State Co-operative Apex Bank Ltd., Bengaluru (the bank) for non-compliance with directions issued by the Reserve Bank of India (RBI) on “Housing Finance”. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking
The Reserve Bank of India (RBI) has, by an order dated August 29, 2022, imposed a monetary penalty of ₹25.00 lakh (Rupees Twenty-Five Lakh only) on The Karnataka State Co-operative Apex Bank Ltd., Bengaluru (the bank) for non-compliance with directions issued by the Reserve Bank of India (RBI) on “Housing Finance”. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking
Sep 05, 2022
RBI imposes monetary penalty on Thane Bharat Sahakari Bank Ltd., Thane, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 29, 2022, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on Thane Bharat Sahakari Bank Limited, Thane, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’. This penalty has been imposed in exercise of powers vested in RBI conferred und
The Reserve Bank of India (RBI) has, by an order dated August 29, 2022, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on Thane Bharat Sahakari Bank Limited, Thane, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’. This penalty has been imposed in exercise of powers vested in RBI conferred und
Sep 05, 2022
RBI imposes monetary penalty on The Nicholson Co-operative Town Bank Ltd., (No.8), Thanjavur District, Tamil Nadu
The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Nicholson Co-operative Town Bank Ltd., (No.8), Thanjavur District, Tamil Nadu (the bank) for non-adherence / violation of directions issued under 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 S
The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Nicholson Co-operative Town Bank Ltd., (No.8), Thanjavur District, Tamil Nadu (the bank) for non-adherence / violation of directions issued under 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 S
Sep 05, 2022
RBI imposes monetary penalty on The Urban Co-operative Bank Ltd., Rourkela, Odisha
The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2022, a monetary penalty of ₹10000 (Rupees Ten thousand only) on The Urban Co-operative Bank Ltd., Rourkela (the bank) for contravention of/ non-compliance with the directions issued by RBI on the Depositor Education and Awareness Fund. 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 (RBI) has imposed, by an order dated September 01, 2022, a monetary penalty of ₹10000 (Rupees Ten thousand only) on The Urban Co-operative Bank Ltd., Rourkela (the bank) for contravention of/ non-compliance with the directions issued by RBI on the Depositor Education and Awareness Fund. 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
Sep 05, 2022
RBI imposes monetary penalty on the Rani Laxmibai Urban Co-operative Bank Ltd., Jhansi, Uttar Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated August 29, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the Rani Laxmibai Urban Co-operative Bank Ltd., Jhansi, Uttar Pradesh (the bank) for contravention of section 35A, section 36 (1) (a) 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 impos
The Reserve Bank of India (RBI) has imposed, by an order dated August 29, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the Rani Laxmibai Urban Co-operative Bank Ltd., Jhansi, Uttar Pradesh (the bank) for contravention of section 35A, section 36 (1) (a) 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 impos
Aug 29, 2022
RBI imposes monetary penalty on The Ottapalam Co-operative Urban Bank Ltd., No. F. 1647, Ottapalam, Palakkad District, Kerala
The Reserve Bank of India (RBI) has imposed, by an order dated August 25, 2022, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Ottapalam Co-operative Urban Bank Ltd., No.F. 1647, Ottapalam, Palakkad District, Kerala (the bank) for non-adherence / violation of directions issued under i) Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and ii) Know Your Customer (KYC) Guidelines – Primary (Urban) Co-operative Banks.
The Reserve Bank of India (RBI) has imposed, by an order dated August 25, 2022, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Ottapalam Co-operative Urban Bank Ltd., No.F. 1647, Ottapalam, Palakkad District, Kerala (the bank) for non-adherence / violation of directions issued under i) Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and ii) Know Your Customer (KYC) Guidelines – Primary (Urban) Co-operative Banks.
Aug 29, 2022
RBI imposes monetary penalty on Bharat Heavy Electricals Employees’ Co-operative Bank Limited, Kailasapuram, Tiruchirappalli, Tamil Nadu
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on Bharat Heavy Electricals Employees’ Co-operative Bank Limited, Kailasapuram, Tiruchirappalli, Tamil Nadu (the bank) for non-adherence/violation of directions issued under 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
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on Bharat Heavy Electricals Employees’ Co-operative Bank Limited, Kailasapuram, Tiruchirappalli, Tamil Nadu (the bank) for non-adherence/violation of directions issued under 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
Aug 29, 2022
RBI imposes monetary penalty on Kakinada Co-operative Town Bank Ltd, Kakinada, East Godavari District, Andhra Pradesh (Revised)
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on Kakinada Co-operative Town Bank Ltd, Kakinada, East Godavari District, Andhra Pradesh (the bank) for non-adherence / violation of directions issued under Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and Establishment of Depositor Education and Awareness Fund. This penalty has been imposed i
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on Kakinada Co-operative Town Bank Ltd, Kakinada, East Godavari District, Andhra Pradesh (the bank) for non-adherence / violation of directions issued under Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and Establishment of Depositor Education and Awareness Fund. This penalty has been imposed i
Aug 29, 2022
RBI imposes monetary penalty on The Darussalam Co-operative Urban Bank Ltd., Hyderabad, Telangana
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Darussalam Co-operative Urban Bank Ltd., Hyderabad, Telangana (the bank) for non-adherence / violation of directions issued under Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisi
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Darussalam Co-operative Urban Bank Ltd., Hyderabad, Telangana (the bank) for non-adherence / violation of directions issued under Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisi
Aug 29, 2022
RBI imposes monetary penalty on The Visakhapatnam Co-operative Bank Ltd, Visakhapatnam, Andhra Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated August 25, 2022, a monetary penalty of ₹55.00 lakh (Rupees Fifty five lakh only) on The Visakhapatnam Co-operative Bank Ltd, Visakhapatnam, Andhra Pradesh (the bank) for non-adherence/violation of directions issued under (i) Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and (ii) Finance for Housing Schemes-UCBs. This penalty has been imposed in exercise of powers ves
The Reserve Bank of India (RBI) has imposed, by an order dated August 25, 2022, a monetary penalty of ₹55.00 lakh (Rupees Fifty five lakh only) on The Visakhapatnam Co-operative Bank Ltd, Visakhapatnam, Andhra Pradesh (the bank) for non-adherence/violation of directions issued under (i) Income Recognition, Asset Classification, Provisioning and Other related Matters-UCBs and (ii) Finance for Housing Schemes-UCBs. This penalty has been imposed in exercise of powers ves
Aug 29, 2022
RBI imposes monetary penalty on The Nellore Co-operative Urban Bank Limited, Gandhi Nagar, Nellore District, Andhra Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated August 25, 2022, an aggregate monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Nellore Co-operative Urban Bank Limited, Gandhi Nagar, Nellore District, Andhra Pradesh (the bank) for non-adherence / violation of directions issued under i) prohibition of loans and advances to Directors and their Relatives and Firms / Concerns in which they are interested– UCBs and ii) Exposure Norms and Statutor
The Reserve Bank of India (RBI) has imposed, by an order dated August 25, 2022, an aggregate monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Nellore Co-operative Urban Bank Limited, Gandhi Nagar, Nellore District, Andhra Pradesh (the bank) for non-adherence / violation of directions issued under i) prohibition of loans and advances to Directors and their Relatives and Firms / Concerns in which they are interested– UCBs and ii) Exposure Norms and Statutor
Aug 29, 2022
RBI imposes monetary penalty on The Kendrapara Urban Cooperative Bank, Kendrapara, Odisha
The Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Kendrapara Urban Cooperative Bank, Kendrapara (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 Banking Reg
The Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Kendrapara Urban Cooperative Bank, Kendrapara (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 Banking Reg
Aug 29, 2022
RBI imposes monetary penalty on the National Urban Co-operative Bank Limited, Pratapgarh, Uttar Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the National Urban Co-operative Bank Limited, Pratapgarh, Uttar 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’. Th
The Reserve Bank of India (RBI) has imposed, by an order dated August 22, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the National Urban Co-operative Bank Limited, Pratapgarh, Uttar 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’. Th
Aug 22, 2022
RBI imposes monetary penalty on M/s Swagatam Marketing Private Limited, Kolkata
The Reserve Bank of India (RBI) has imposed, by an order dated August 16, 2022, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on M/s Swagatam Marketing Private Limited, Kolkata (the company) for contravention of/ non-compliance with the directions issued by RBI to Non-Banking Financial Company (Non-Systemically Important, Non-Deposit taking) regarding Change in Management. This penalty has been imposed in exercise of powers vested in RBI under clause (b) of
The Reserve Bank of India (RBI) has imposed, by an order dated August 16, 2022, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on M/s Swagatam Marketing Private Limited, Kolkata (the company) for contravention of/ non-compliance with the directions issued by RBI to Non-Banking Financial Company (Non-Systemically Important, Non-Deposit taking) regarding Change in Management. This penalty has been imposed in exercise of powers vested in RBI under clause (b) of
Aug 18, 2022
RBI imposes monetary penalty on Obopay Mobile Technology India Private Limited
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹5,93,000/- (Rupees five lakh ninety-three thousand only) on Obopay Mobile Technology India Private Limited (the entity) for non-compliance with certain provisions of the Master Directions on Prepaid Payment Instruments (PPIs) dated August 27, 2021 (as updated from time to time) and the Master Direction – Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 (as updated from time to time). The
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹5,93,000/- (Rupees five lakh ninety-three thousand only) on Obopay Mobile Technology India Private Limited (the entity) for non-compliance with certain provisions of the Master Directions on Prepaid Payment Instruments (PPIs) dated August 27, 2021 (as updated from time to time) and the Master Direction – Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 (as updated from time to time). The
Aug 17, 2022
RBI imposes monetary penalty on The Akola Urban Co-operative Bank Ltd., Akola, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 10, 2022, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Akola Urban Co-operative Bank Ltd., Akola, Maharashtra (the bank) for non-compliance with RBI directions on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters- UCBs’ (IRAC norms). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with
The Reserve Bank of India (RBI) has, by an order dated August 10, 2022, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Akola Urban Co-operative Bank Ltd., Akola, Maharashtra (the bank) for non-compliance with RBI directions on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters- UCBs’ (IRAC norms). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with
Aug 08, 2022
RBI imposes monetary penalty on The Goa State Co-operative Bank Ltd., Panaji
The Reserve Bank of India (RBI) has, by an order dated August 01, 2022, imposed a monetary penalty of ₹2.51 lakh (Rupees Two Lakh and Fifty One Thousand only) on The Goa State Co-operative Bank Ltd., Panaji (the bank) for non-compliance with section 9 read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Act.
The Reserve Bank of India (RBI) has, by an order dated August 01, 2022, imposed a monetary penalty of ₹2.51 lakh (Rupees Two Lakh and Fifty One Thousand only) on The Goa State Co-operative Bank Ltd., Panaji (the bank) for non-compliance with section 9 read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Act.
Aug 08, 2022
RBI imposes monetary penalty on Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur
The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of ₹25.00 lakh (Rupees Twenty-Five Lakh only) on Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur (the bank) 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 conferred on RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Bank
The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of ₹25.00 lakh (Rupees Twenty-Five Lakh only) on Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur (the bank) 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 conferred on RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Bank
Aug 08, 2022
RBI imposes monetary penalty on Warud Urban Co-operative Bank Ltd., Warud (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated August 05, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Warud Urban Co-operative Bank Ltd., Warud, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/Other Restrictions and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provis
The Reserve Bank of India (RBl) has imposed, by an order dated August 05, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Warud Urban Co-operative Bank Ltd., Warud, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/Other Restrictions and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provis
Aug 08, 2022
RBI imposes monetary penalty on The Mehsana Urban Co-operative Bank Ltd., Mehsana, Gujarat
The Reserve Bank of India (RBI) has, by an order dated August 01, 2022, imposed a monetary penalty of ₹40.00 lakh (Rupees forty lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana, Gujarat (the bank) for non-compliance with certain provisions of the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections
The Reserve Bank of India (RBI) has, by an order dated August 01, 2022, imposed a monetary penalty of ₹40.00 lakh (Rupees forty lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana, Gujarat (the bank) for non-compliance with certain provisions of the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections
Aug 08, 2022
RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Chhindwara (M.P.)
The Reserve Bank of India (RBl) has imposed, by an order dated August 05, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Chhindwara (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by the Reserve Bank of India (RBI) on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisio
The Reserve Bank of India (RBl) has imposed, by an order dated August 05, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Chhindwara (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by the Reserve Bank of India (RBI) on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisio
Aug 08, 2022
RBI imposes monetary penalty on Spandana Sphoorty Financial Limited, Hyderabad
The Reserve Bank of India (RBI) has, by an order dated August 05, 2022, imposed a monetary penalty of ₹2.33 crore (Rupees Two Crore Thirty-Three lakh only) on Spandana Sphoorty Financial Limited, Hyderabad (the company) for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016”. This penalty has been imposed in exercise of powers vested
The Reserve Bank of India (RBI) has, by an order dated August 05, 2022, imposed a monetary penalty of ₹2.33 crore (Rupees Two Crore Thirty-Three lakh only) on Spandana Sphoorty Financial Limited, Hyderabad (the company) for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016”. This penalty has been imposed in exercise of powers vested
Aug 08, 2022
RBI imposes monetary penalty on Garha Co-operative Bank Limited, Guna (M.P.)
The Reserve Bank of India (RBl) has imposed, by an order dated August 04, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Garha Co-operative Bank Limited, Guna (M.P.) (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Income Recognition and Asset Classification (IRAC). 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 (RBl) has imposed, by an order dated August 04, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Garha Co-operative Bank Limited, Guna (M.P.) (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Income Recognition and Asset Classification (IRAC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sect
Aug 08, 2022
RBI imposes monetary penalty on The Yavatmal Urban Co-operative Bank Limited, Yavatmal (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated August 05, 2022, a monetary penalty of ₹3.50 lakh (Rupees Three lakh fifty thousand only) on The Yavatmal Urban Co-operative Bank Limited, Yavatmal (Maharashtra) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Know Your Customer (KYC). 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 05, 2022, a monetary penalty of ₹3.50 lakh (Rupees Three lakh fifty thousand only) on The Yavatmal Urban Co-operative Bank Limited, Yavatmal (Maharashtra) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
Aug 08, 2022
RBI imposes monetary penalty on Indapur Urban Cooperative Bank Ltd., Indapur, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 04, 2022, a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on Indapur Urban Cooperative Bank Ltd., Indapur, Maharashtra (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 5
The Reserve Bank of India (RBI) has imposed, by an order dated August 04, 2022, a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on Indapur Urban Cooperative Bank Ltd., Indapur, Maharashtra (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 5
Aug 05, 2022
RBI imposes monetary penalty on Jupiter Capital Private Limited, Bengaluru
The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of ₹81.92 lakh (Rupees Eighty one lakh and ninety two thousand only) on Jupiter Capital Private Limited, Bengaluru (the company), for non-compliance with certain provisions of the directions issued by RBI contained in the ‘Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016’ and RBI directions on “Membership of Credit Information Companies (CICs)”. This
The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of ₹81.92 lakh (Rupees Eighty one lakh and ninety two thousand only) on Jupiter Capital Private Limited, Bengaluru (the company), for non-compliance with certain provisions of the directions issued by RBI contained in the ‘Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016’ and RBI directions on “Membership of Credit Information Companies (CICs)”. This
Aug 05, 2022
RBI imposes monetary penalty on Indian Bank
The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of ₹32 Lakh (Rupees Thirty-two lakh only) on Indian Bank (the bank), for non-compliance with certain provisions of Reserve Bank of India (Fraud classification and reporting by commercial banks and select FIs) Directions 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
The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of ₹32 Lakh (Rupees Thirty-two lakh only) on Indian Bank (the bank), for non-compliance with certain provisions of Reserve Bank of India (Fraud classification and reporting by commercial banks and select FIs) Directions 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
Jul 28, 2022
RBI imposes monetary penalty on Mangaldai Nagar Samabai Bank Limited, Mangaldai (Assam)
The Reserve Bank of India (RBI) has imposed, by an Order dated July 28, 2022, a monetary penalty of ₹50,000 (Rupees Fifty Thousand only) on Mangaldai Nagar Samabai Bank Limited, Mangaldai (the bank), for non-compliance with Know Your Customer (KYC) directions, 2016 issued by RBI. The 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) and Section 56 of the Banking Regulation Act, 1949 (As A
The Reserve Bank of India (RBI) has imposed, by an Order dated July 28, 2022, a monetary penalty of ₹50,000 (Rupees Fifty Thousand only) on Mangaldai Nagar Samabai Bank Limited, Mangaldai (the bank), for non-compliance with Know Your Customer (KYC) directions, 2016 issued by RBI. The 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) and Section 56 of the Banking Regulation Act, 1949 (As A
Jul 28, 2022
RBI imposes monetary penalty on The Moirang Primary Co-operative Bank Ltd., Moirang (Manipur)
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Moirang Primary Co-operative Bank Ltd., Moirang (the bank), for non-compliance with Know Your Customer (KYC) directions, 2016 issued by RBI. The 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) and Section 56 of the Banking Regulation Act, 1949 (As
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Moirang Primary Co-operative Bank Ltd., Moirang (the bank), for non-compliance with Know Your Customer (KYC) directions, 2016 issued by RBI. The 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) and Section 56 of the Banking Regulation Act, 1949 (As
Jul 28, 2022
RBI imposes monetary penalty on Tura Urban Co-operative Bank Ltd., Tura (Meghalaya)
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2022, a monetary penalty of ₹50,000 (Rupees Fifty thousand only) on Tura Urban Co-operative Bank Ltd., Tura (the bank), for non-compliance with Know Your Customer (KYC) directions, 2016 issued by RBI. The 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) and Section 56 of the Banking Regulation Act, 1949 (As Applicabl
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2022, a monetary penalty of ₹50,000 (Rupees Fifty thousand only) on Tura Urban Co-operative Bank Ltd., Tura (the bank), for non-compliance with Know Your Customer (KYC) directions, 2016 issued by RBI. The 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) and Section 56 of the Banking Regulation Act, 1949 (As Applicabl
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Page Last Updated on: July 22, 2024
