The Reserve Bank of India (RBI) has, by an order dated March 27, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Purvaja Fincap Pvt. Ltd., Tamil Nadu (the company) for non-compliance with certain provisions of

The Reserve Bank of India (RBI) has, by an order dated March 26, 2025, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Savery Transport Finance Ltd., Chennai, Tamil Nadu (the company) for non-compliance with certain provisions of the ‘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 conferred on RBI under the provisions of Section 58 G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934. The correspondence related to charging higher interest rate than the annualised interest rate mentioned in the loan agreement revealed, inter alia, non-compliance with the RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia that the following charges against the company were sustained, warranting imposition of monetary penalty: The company had:

The Reserve Bank of India (RBI) has, by an order dated March 26, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Kodungallur Town Co-operative Bank Ltd., Kerala (the bank) for non-compliance with certain directions issued by RBI on ‘Management of Advances – UCBs’, ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs’ and ‘Interest Rate on Deposits’.

The Reserve Bank of India (RBI) has, by an order dated March 26, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Habitat Micro Build India Housing Finance Company Private Ltd., Karnataka (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 March 26, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Mysore and Chamarajnagar District Co-operative Central Bank Ltd., Karnataka (the bank) for contravention of provisions of Section 20 read with Section 56 of the Bank

The Reserve Bank of India (RBI) has, by an order dated March 27, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Santrampur Urban Co-operative Bank Ltd., Santrampur, Mahisagar District, Gujarat (the bank) for non-compl

The Reserve Bank of India (RBI) has, by an order dated March 27, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Porbandar Commercial Co-operative Bank Limited, Dist. Porbandar, Gujarat (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 March 13, 2025, imposed a monetary penalty of ₹2.70 lakh (Rupees Two Lakh Seventy Thousand only) on The Co-operative Urban Bank Ltd., Paralakhemundi, Odisha (the bank) for non-compliance with the certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions- UCBs’ and ‘Membership

The Reserve Bank of India (RBI) has, by an order dated March 26, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Sholinghur Co-operative Urban Bank Limited, Vellore, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictio

The Reserve Bank of India (RBI) has, by an order dated March 25, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Nizamabad District Co-operative Central Bank Ltd., Telangana (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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.