The Reserve Bank of India (RBI) has, by an order dated January 03, 2025, imposed a monetary penalty of ₹1.75 lakh (Rupees One Lakh Seventy Five Thousand only) on Mukkuperi Co-operative Urban Bank Limited, Tamil Nadu (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’, certain directions issued on ‘Loans and advances to directors, their relatives, and firms / concerns in which they are interested’, and ‘Know Your Customer (KYC)’.

The Reserve Bank of India (RBl) has, by an order dated January 08, 2025, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on Parbhani District Central Co-operative Bank Ltd., Parbhani, Maharashtra (the bank) for contravention of provisions of Section 20 and Section 26A 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

The Reserve Bank of India (RBI) has, by an order dated January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Cordite Factory Co-operative Bank Ltd., Aravankadu, Nilgiris, 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 January 03, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Kamaraj Co-operative Town Bank Limited, Tamil Nadu (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’, certain directions on ‘Prudential Norms on Capital Adequacy - 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 January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Tamilnadu Circle Postal Co-operative Bank Limited, 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 January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Virudhunagar Co-operative Urban Bank Limited, Virudhunagar, 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 January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Batlagundu Co-operative Urban Bank Limited, Dindigul, 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 January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Sivakasi Co-operative Urban Bank Limited, 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 January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Indian School Finance Company Pvt. Ltd., Telangana (the company) for non-compliance with certain directions issued by RBI on ‘Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs’. 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.