The Reserve Bank of India (RBI) has, by an order dated September 03, 2024 imposed a monetary penalty of ₹1,00,00,000 (Rupees One crore only) on HDFC Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’, ‘Recovery Agents engaged by Banks’ and ‘Customer Service in Banks’ read with the BCSBI Code and ‘Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47 A (1) (c) read with section 46 (4) of the Banking Regulation Act, 1949

The Reserve Bank of India (RBl) has, by an order dated September 05, 2024, imposed a monetary penalty of ₹4.50 lakh (Rupees Four lakh fifty thousand only) on Samarth Sahakari Bank Limited, Solapur, Maharashtra (the bank) for contravention of the provisions of section 12(2) read with section 56 of the Banking Regulation Act, 1949 (BR Act), non-compliance with directions issued by RBI on ‘Exposure Norms and Statutory/Other Restrictions – UCBs’ and operational instructions issued by RBI under ‘Supervisory Action Framework for Primary (Urban) Co-operative Banks (UCBs)’. Thi

The Reserve Bank of India (RBl) has, by an order dated September 05, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Vidisha, Madhya Pradesh (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act). 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.

The Reserve Bank of India (RBl) has, by an order dated September 05, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Vidisha, Madhya Pradesh (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act). 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

The Reserve Bank of India (RBI) has, by an order dated September 05, 2024, imposed a monetary penalty of ₹3.50 lakh (Rupees Three lakh fifty thousand only) on Nagrik Sahakari Bank Maryadit, Raipur, Chhattisgarh (the bank) for non-compliance with directions issued by RBI on ‘Exposure Norms & Statutory/Other Restrictions – UCBs’ and ‘Investments by Primary (Urban) 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.

The Reserve Bank of India (RBI) has, by an order dated August 29, 2024, imposed a monetary penalty of ₹5,00,000/- (Rupees Five lakh only) on Godrej Housing Finance Limited (the company) for non-compliance with certain provisions of the ‘Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 52A of the National Housing Bank Act, 1987.

The Reserve Bank of India (RBI) has, by an order dated September 2, 2024, imposed a monetary penalty of ₹5,00,000/- (Rupees Five lakh only) on Aadhar Housing Finance Limited (the company) for non-compliance with certain provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021', issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 52A of the National Housing Bank Act, 1987.

The Reserve Bank of India (RBI) has, by an order dated September 2, 2024, imposed a monetary penalty of ₹3,50,000/- (Rupees Three lakh fifty thousand only) on Housing and Urban Development Corporation Limited (the company) for non-compliance with certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Direction, 2016’ and ‘Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 52A of the National Housing Bank Act, 1987.

The Reserve Bank of India (RBI) has, by an order dated August 28, 2024, imposed a monetary penalty of ₹25,000/- (Rupees Twenty Five Thousand only) on RAR Fincare Limited, Chennai, Tamil Nadu (the company) for non-compliance with certain provisions of ‘Master Direction- Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016’ read with ‘Master Direction-Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023’, issued by RBI. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of 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 August 28, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Durgapur Mahila Co-operative Bank Limited, Kolkata (the bank) for non-compliance with certain provisions of ‘Master Circular on Investments by Primary (Urban) Co-operative Banks’ issued by RBI. 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.