The Reserve Bank of India (RBI) has imposed, by an order dated November 29, 2024, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Panchkula Central Co-operative Bank Ltd., Haryana (the bank) for contravention of 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 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 imposed, by an order dated November 29, 2024, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Patiala Central Co-operative Bank Ltd., Patiala, Punjab (the bank) for contravention of 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 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 November 25, 2024, imposed a monetary penalty of ₹2,00,000/- (Rupees Two Lakh only) on The Periyakulam Co-operative Urban Bank Ltd., Tamil Nadu (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’ and certain directions issued by RBI on ‘Issue and regulation of share capital and securities − Primary (Urban) Co-operative Banks’ and ‘Prudential Norms on Capital Adequacy – UCBs’. This penalty has been imposed

The Reserve Bank of India (RBI) has, by an order dated November 25, 2024, imposed a monetary penalty of ₹4.50 lakh (Rupees Four Lakh Fifty Thousand only) on Maxvalue Credits and Investments Limited, Thrissur, Kerala (the company) for non-compliance with certain directions issued by RBI on ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ read with ‘Non-Banking Financial

The Reserve Bank of India (RBI) has, by an order dated November 25, 2024, imposed a monetary penalty of ₹1,00,000/- (Rupees One Lakh only) on The Kanara District Central Co-operative Bank Ltd., Karnataka (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.

The Reserve Bank of India (RBI) has, by an order dated November 25, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Raichur District Central Co-operative Bank Ltd., Karnataka (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.

The Reserve Bank of India (RBI) has, by an order dated November 20, 2024, imposed a monetary penalty of ₹2.10 Lakh (Rupees Two lakh ten thousand only) on The Lunawada Nagrik Sahakari Bank Limited, Lunawada, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’; ‘Area of Operation, Branch Authorisation Policy, Opening/Up-gradation of Extension Counters, ATMs and Shifting/Splitting/Closure of Offices’ 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 and Section 25 of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has, by an order dated November 15, 2024, imposed a monetary penalty of ₹2.10 lakh (Rupees Two lakh ten thousand only) on The Kheda People’s Co-operative Bank Ltd., Kheda, 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 ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. 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 November 18, 2024, imposed a monetary penalty of ₹3.00 Lakh (Rupees Three lakh only) on The Kapadwanj Peoples Co-operative Bank Limited, Kheda, Gujarat (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’ 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 BR Act, 1949.

The Reserve Bank of India (RBl) has, by an order dated November 14, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Anandeshwari Nagrik Sahkari Bank Maryadit, Ujjain, Madhya Pradesh (the bank), for non-compliance with certain directions issued by RBI on ‘Know Your Customer’. 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 November 14, 2024, imposed a monetary penalty of ₹25,000/- (Rupees Twenty Five Thousand only) on GPT Sons Pvt Ltd., (the company) for non-compliance with the provisions of Section 45IC of the Reserve Bank of India Act, 1934 (RBI Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58G(1) read with Section 58B(6) of RBI Act.

The Reserve Bank of India (RBI) has, by an order dated November 19, 2024 imposed a monetary penalty of ₹61.40 lakh (Rupees Sixty-one lakh and forty thousand only) on RBL Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer’ . 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 November 13, 2024, imposed a monetary penalty of ₹1.25 lakh (Rupees One Lakh Twenty Five Thousand only) on The Rajula Nagrik Sahakari Bank Ltd., Rajula, Dist. Amreli, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are Interested’ and ‘Maintenance of Deposit Accounts – 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 November 13, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Amod Nagric Co-operative Bank Ltd., Amod, Dist. Bharuch, 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’ and ‘Know Your Customer (KYC) norms’. 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 November 15, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Vijay Commercial Co-operative Bank Ltd., Rajkot, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC) norms’. 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 November 13, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Sundargarh District Central Co-operative Bank Ltd., Odisha (the bank) for contravention of provisions of sections 20 and 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC) norms’. This penalty has been imposed in exercise of powers vested in RBI, conferred 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 (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on M.S. Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’ and ‘Know Your Customer (KYC)’. 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 November 13, 2024, imposed a monetary penalty of ₹1.25 lakh (Rupees One Lakh Twenty Five Thousand only) on The Nawadah Central Co-operative Bank Ltd., Bihar (the bank) for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’ and ‘Know Your Customer (KYC)’ . 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 and section 25 of the Credit Information Companies (Regulation) Act, 2005

The Reserve Bank of India (RBI) has, by an order dated November 11, 2024, imposed a monetary penalty of ₹6.34 lakh (Rupees Six lakh thirty four thousand only) on The Jaynagar Mozilpur People’s Co-operative Bank Ltd., West Bengal (the bank) for non-compliance with certain directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to the Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL.

The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to the Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. 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 November 04, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Vijapur Nagarik Sahakari Bank Ltd., Vijapur, Dist. Mehsana, 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 (UCBs)’ and ‘Know Your Customer’. 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 November 11, 2024, imposed a monetary penalty of ₹80,000 (Rupees Eighty Thousand only) on The Gauhati Co-operative Urban Bank Limited (the bank) for non-compliance with the certain directions issued by RBI on ‘Know Your Customer (KYC)’ and ‘Membership of Credit Information Companies (CICs) by 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 and section 25 of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI), vide order dated November 08, 2024, has cancelled the licence of “The Durga Co-operative Urban Bank Ltd., Vijayawada”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on November 12, 2024. The Commissioner for Cooperation and Registrar of Cooperative Societies, Andhra Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank of India (RBI) has, by an order dated November 05, 2024, imposed a monetary penalty of ₹50,000 (Rupees Fifty thousand only) on The Sathamba People's Co-operative Bank Ltd., Aravalli, 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 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 (RBl) has, by an order dated November 06, 2024, imposed a monetary penalty of ₹1.10 lakh (Rupees One Lakh Ten Thousand only) on Bally Co-operative Bank Ltd., Howrah, West Bengal (the bank), for non-compliance with certain directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. 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 November 08, 2024, imposed a monetary penalty of ₹59.20 lakh (Rupees Fifty-Nine Lakh and Twenty Thousand only) on South Indian Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’ and ‘Customer Service in 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) (i) of BR Act.

The Reserve Bank of India (RBI) has, by an order dated November 05, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Sree Charan Souhardha Co-operative Bank Ltd., Bengaluru (the bank) for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and specific directions issued under ‘Supervisory Action Framework’ (SAF). 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 November 05, 2024, imposed a monetary penalty of ₹1,50,000/- (Rupees One Lakh Fifty Thousand only) on The Srirangam Co-operative Urban 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’ and specific directions issued under ‘Supervisory Action Framework’ (SAF). 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 November 05, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Nilambur Co-operative Urban Bank Ltd., Kerala (the bank) for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF). 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 October 29, 2024, imposed a monetary penalty of ₹25,000/- (Rupees Twenty Five Thousand only) on Manvi Pattana Souharda Sahakari Bank Niyamitha, Manvi (the bank) for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF). 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 October 29, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on Shree Mahabaleshwar Co-operative Bank Ltd., Karnataka (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 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 October 28, 2024, imposed a monetary penalty of ₹60,000/- (Rupees Sixty Thousand only) on Mehmadabad Urban People’s Co-operative Bank Ltd., Mehmadabad, Dist. Kheda, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred in RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 and section 25 of the Credit Information Companies (Regulation) Act, 2005.

The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of contravention of statutory provision / non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions of BR Act and RBI directions. After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty

The Reserve Bank of India (RBI) has, by an order dated October 28, 2024, imposed a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on The Jambusar People’s Co-operative Bank Ltd., Bharuch, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under section 25 of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBl) has, by an order dated October 21, 2024, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on Sahyog Urban Co-operative Bank Ltd., Udgir, 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 sections 46(4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated October 23, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Tura Urban Co-operative Bank Ltd., Tura, Meghalaya (the bank) for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF). 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.