The Reserve Bank of India (RBl) has, by an order dated February 13, 2025, imposed a monetary penalty of ₹4.20 lakh (Rupees Four Lakh Twenty Thousand only), on Laxmibai Mahila Nagrik Sahakari Bank Maryadit, Gwalior, Madhya Pradesh, (the bank), for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/ concerns in which they are interested’, and ‘Priority Sector Landing (PSL) - Targets and classification’, and specific directions issued by RBI on making contribution to Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. This penalty has been imposed in exercise of powers conferred on RBI 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 (RBl) has, by an order dated February 13, 2025, imposed a monetary penalty of ₹25,000/- (Rupees Twenty Five Thousand only) on The Dhule and Nandurbar District Central Co-operative Bank Ltd., Dhule, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 25 of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has, by an order dated February 11, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Muzzafarpur Central Co-operative Bank Ltd. (the bank) for non-compliance with the certain directions issued by RBI on ‘Know Your Customer’. This penalty has been imposed in exercise of powers conferred on RBI 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 (RBl) has, by an order dated February 11, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Pinnacle Capital Solutions Pvt. Ltd., Jharkhand (the company) for non-compliance with certain directions issued by RBI on ‘Credit Card and Debit Card – Issuance and Conduct Directions’ and ‘Digital Lending’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated February 10, 2025, imposed a monetary penalty of ₹5.80 lakh (Rupees Five Lakh Eighty Thousand only) on Shriram Finance Limited (the company) for non-compliance with certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’, ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ and directions on ‘Data Format for Furnishing of Credit Information to Credit Information Companies’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934, and Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005

The Reserve Bank of India (RBI) has, by an order dated February 12, 2025, imposed a monetary penalty of ₹61.40 lakh (Rupees Sixty One Lakh Forty Thousand only) on The Nainital Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Advances’ and ‘Customer Service in Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated February 10, 2025, imposed a monetary penalty of ₹6.70 lakh (Rupees Six Lakh Seventy Thousand only) on Ujjivan Small Finance Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances - Statutory and Other Restrictions’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated February 07, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The Tiruppur Co-operative Urban Bank Ltd., Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’, and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI 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 February 07, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Ramanathapuram Co-operative Urban Bank Ltd., Ramanathapuram, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI 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 February 07, 2025, imposed a monetary penalty of ₹1.75 lakh (Rupees One Lakh Seventy Five Thousand only) on The Salem Urban Co-operative Bank Ltd., Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms / concerns in which they are interested’, ‘Exposure Norms and Statutory / Other Restrictions – UCBs’, and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI 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 February 11, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Mumbai Mahanagarpalika Shikshan Vibhag Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI 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 February 10, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Sulaimani Co-operative Bank Ltd., Vadodara, 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’ and ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers conferred on RBI, 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 February 04, 2025, imposed a monetary penalty of ₹8.30 lakh (Rupees Eight Lakh Thirty Thousand only) on Karur Vysya Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Loan System for Delivery of Bank Credit’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated February 04, 2025, imposed a monetary penalty of ₹27.30 lakh (Rupees Twenty Seven Lakh Thirty Thousand only) on Federal Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’.

The Reserve Bank of India (RBI) has, by an order dated January 15, 2025, imposed a monetary penalty of ₹26.70 lakh (Rupees Twenty Six Lakh Seventy Thousand only) on India Post Payments Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Customer Service in Banks’. This penalty has been imposed in exercise 

The Reserve Bank of India (RBI) has, by an order dated January 20, 2025, imposed a monetary penalty of ₹65 lakh (Rupees Sixty Five Lakh only) on Equitas Small Finance Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Levy of Foreclosure Charges/Pre-payment Penalty on Floating Rate Term Loans’ and ‘Credit Flow to Agriculture – Collateral free agricultural loans’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking

The Reserve Bank of India (RBI) has, by an order dated January 20, 2025, imposed a monetary penalty of ₹3.10 lakh (Rupees Three Lakh Ten Thousand only) on Aptus Finance India Private Limited (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’ issued by RBI, relating to ‘Governance Issues’. This penalty has been imposed in exercise of powers conferred on RBI under clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated January 27, 2025, imposed a monetary penalty of ₹2.10 lakh (Rupees Two Lakh Ten Thousand only) on Shree Savli Nagrik Sahakari Bank Ltd., Dist. Vadodara, Gujarat (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with certain directions issued by RBI on ‘Investment by Primary (Urban) Co-operative Banks’, ‘Know Your Customer (KYC)’ and ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of 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 January 28, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Dist. Surat, 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’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred in RBI under 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 January 28, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Vadali Nagarik Sahakari Bank Ltd., Dist. Sabarkantha, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances to directors, relatives