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’.