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.

ଭାରତୀୟ ରିଜର୍ଭ ବ୍ୟାଙ୍କ (ଆରବିଆଇ) ଦ୍ୱାରା, 22 ଅଗଷ୍ଟ 2024 ର ଏକ ଆଦେଶ ଅନୁଯାୟୀ, ଦି ଅର୍ବାନ କୋଅପରେଟିଭ୍ ବ୍ୟାଙ୍କ ଲିମିଟେଡ୍, କଟକ (ବ୍ୟାଙ୍କ) ଉପରେ ଆରବିଆଇ ଦ୍ୱାରା ଜାରି ନିଜ ଗ୍ରାହକଙ୍କୁ ଜାଣନ୍ତୁ (KYC) ନିର୍ଦ୍ଦେଶନାମା ଏବଂ ଏକ୍ସପୋଜର ଏବଂ ବିଧିଗତ / ଅନ୍ୟାନ୍ୟ ପ୍ରତିବନ୍ଧକ – UCB ସମ୍ବଧିତ ନିର୍ଦ୍ଦେଶାବଳୀ ପାଳନ ନକରିଥିବା ହେତୁ/ ଉଲ୍ଲଂଘନ କରିଥିବା ହେତୁ, ₹1.50 ଲକ୍ଷ (ଏକ ଲକ୍ଷ ପଚାଶ ହଜାର ଟଙ୍କା ମାତ୍ର) ଜରିମାନା ଲଗା ଯାଇଅଛି | ବ୍ୟାଙ୍କିଙ୍ଗ  ନିୟମାବଳୀ ଅଧିନିୟମ, 1949 ର ଧାରା 47 ଏ (1) (ସି) ସହ ପଠିତ ଧାରା 46 (4) (i) ଏବଂ ଧାରା 56 ଦ୍ୱାରା ପ୍ରଦତ୍ତ କ୍ଷମତା ବଳରେ ଭାରତୀୟ ରିଜର୍ଭ ବ୍ୟାଙ୍କ ଏହି ଜରିମାନା ଲାଗୁ କରିଛି ।

The Reserve Bank of India (RBI) has, by an order dated August 05, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Nidhi Co-operative Bank Ltd., Ahmedabad, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are Interested’. 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 July 24, 2024, imposed a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Hindusthan Co-operative Bank Limited, Mumbai, for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions - UCBs’, ‘Limits on exposure to single and group borrowers/parties and large exposures -UCBs’ and ‘Know Your Customer (KYC) Norms’. 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 Banking Regulation Act, 1949

The Reserve Bank of India (RBI) has, by an order dated July 24, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Alibag Co-operative Urban Bank Limited, Alibag for non-compliance with certain directions issued by RBI on ‘Management of Advances-UCBs’. 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 July 26, 2024, imposed a monetary penalty of ₹2.08 lakh (Rupees Two Lakh and Eight thousand only) on Shrikrishna Co-operative Bank Limited, Umrer, Maharashtra (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’. This penalty has been imposed in exercise of powers conferred on RBI under 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 July 26, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Nagnath Urban Co-operative Bank Limited, Hingoli, Maharashtra (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 section 46(4)(i) and section 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated July 15, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The District Co-operative Central Bank Limited, Vizianagaram, Andhra Pradesh (the bank) for non-compliance with certain directions issued by The National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds - Guidelines for Classification, Reporting and Monitoring’. 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 Banking Regulation Act, 1949.