Press Releases - Enforcement - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਫ਼ਰ 21, 2022
Reserve Bank of India imposes monetary penalty on Chennai Central Co-operative Bank Ltd., Chennai, Tamil Nadu
The Reserve Bank of India (RBI) has imposed, by an order dated February 17, 2022, a monetary penalty of ₹1 lakh (Rupees one lakh only) on Chennai Central Co-operative Bank Ltd., Chennai, Tamil Nadu for non-adherence / violation of certain directions issued by RBI contained in the Circular on ‘Income Recognition, Assets Classification, Provisioning and Other Related Matters dated June 22, 1996. This penalty has been imposed in exercise of powers vested in RBI under the
The Reserve Bank of India (RBI) has imposed, by an order dated February 17, 2022, a monetary penalty of ₹1 lakh (Rupees one lakh only) on Chennai Central Co-operative Bank Ltd., Chennai, Tamil Nadu for non-adherence / violation of certain directions issued by RBI contained in the Circular on ‘Income Recognition, Assets Classification, Provisioning and Other Related Matters dated June 22, 1996. This penalty has been imposed in exercise of powers vested in RBI under the
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ਫ਼ਰ 21, 2022
Reserve Bank of India imposes monetary penalty on The Big Kancheepuram Co-operative Town Bank Limited (No.3), Kancheepuram, Tamil Nadu
The Reserve Bank of India (RBI) has imposed, by an order dated February 15, 2022, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Big Kancheepuram Co-operative Town Bank Limited (No.3) for non-adherence / violation of directions issued under Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of
The Reserve Bank of India (RBI) has imposed, by an order dated February 15, 2022, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Big Kancheepuram Co-operative Town Bank Limited (No.3) for non-adherence / violation of directions issued under Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of
ਫ਼ਰ 21, 2022
Reserve Bank of India imposes monetary penalty on The Baramulla Central Co-operative Bank Limited, Jammu and Kashmir
The Reserve Bank of India (RBI) has imposed, by an order dated February 15, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on the Baramulla Central Co-operative Bank Limited, Jammu and Kashmir (the bank) for contravention of Section 6 and Section 9 read with Section 56 of the Banking Regulation Act, 1949 and violation of RBI Directions prohibiting acceptance of fresh deposits. This penalty has been imposed in exercise of powers vested in RBI under the p
The Reserve Bank of India (RBI) has imposed, by an order dated February 15, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on the Baramulla Central Co-operative Bank Limited, Jammu and Kashmir (the bank) for contravention of Section 6 and Section 9 read with Section 56 of the Banking Regulation Act, 1949 and violation of RBI Directions prohibiting acceptance of fresh deposits. This penalty has been imposed in exercise of powers vested in RBI under the p
ਫ਼ਰ 14, 2022
Reserve Bank of India imposes monetary penalty on The Hyderabad District Co-Operative Central Bank Ltd., Hyderabad, Telangana
The Reserve Bank of India (RBI) has imposed, by an order dated February 9, 2022, a monetary penalty of ₹2 lakh (Rupees two lakh only) on The Hyderabad District Co-Operative Central Bank Ltd., Hyderabad, Telangana for non-adherence / violation of certain directions issued by RBI contained in the Circular on ‘Income Recognition, Asset Classification and Provisioning- Recognition of Loan Impairment by State / Central Co-operative Banks dated December 30, 2002 and for non
The Reserve Bank of India (RBI) has imposed, by an order dated February 9, 2022, a monetary penalty of ₹2 lakh (Rupees two lakh only) on The Hyderabad District Co-Operative Central Bank Ltd., Hyderabad, Telangana for non-adherence / violation of certain directions issued by RBI contained in the Circular on ‘Income Recognition, Asset Classification and Provisioning- Recognition of Loan Impairment by State / Central Co-operative Banks dated December 30, 2002 and for non
ਫ਼ਰ 14, 2022
Reserve Bank of India imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Gwalior (M.P.)
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Gwalior (M.P.) (the bank) for contravention of/ non-compliance with the directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of th
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Gwalior (M.P.) (the bank) for contravention of/ non-compliance with the directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of th
ਫ਼ਰ 14, 2022
Reserve Bank of India imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Shivpuri (M.P.)
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Shivpuri (M.P.) (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by the Reserve Bank of India (RBI) on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the p
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Shivpuri (M.P.) (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by the Reserve Bank of India (RBI) on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the p
ਫ਼ਰ 14, 2022
Reserve Bank of India imposes monetary penalty on The Vyavsaik Sahakari Bank Limited, Raipur (C.G.)
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Vyavsaik Sahakari Bank Limited, Raipur (the bank) for contravention of/ non-compliance with Directions issued by RBI on Exposure Norms and Statutory/Other Restrictions on UCBs and Board of Directors - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read wi
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Vyavsaik Sahakari Bank Limited, Raipur (the bank) for contravention of/ non-compliance with Directions issued by RBI on Exposure Norms and Statutory/Other Restrictions on UCBs and Board of Directors - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read wi
ਫ਼ਰ 14, 2022
Reserve Bank of India imposes monetary penalty on Mula Sahakari Bank Ltd., Sonai, Ahmednagar (M.H.)
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹25,000/- (Rupees Twenty five Thousand only) on Mula Sahakari Bank Ltd., Sonai, Ahmednagar (the bank) for contravention of/ non-adherence with Directions issued by RBI to Urban Co-operative Banks on Exposure Norms & Statutory/Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) re
The Reserve Bank of India (RBl) has imposed, by an order dated February 11, 2022, a monetary penalty of ₹25,000/- (Rupees Twenty five Thousand only) on Mula Sahakari Bank Ltd., Sonai, Ahmednagar (the bank) for contravention of/ non-adherence with Directions issued by RBI to Urban Co-operative Banks on Exposure Norms & Statutory/Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) re
ਫ਼ਰ 08, 2022
Reserve Bank of India imposes monetary penalty on M/s Pooram Finserv Pvt Limited, Thrissur, Kerala
The Reserve Bank of India (RBI) has, by an order dated February 04, 2022, imposed a monetary penalty of ₹10 lakh (Rupees ten lakh only) on M/s Pooram Finserv Pvt Limited, Thrissur, Kerala (the company) for non-adherence with certain provisions of the RBI Master Direction - Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 and RBI Direction on Raising Money Through Private Placement of Non-Convertible Debentures (NCDs) by NBFCs dated February 20, 2015. T
The Reserve Bank of India (RBI) has, by an order dated February 04, 2022, imposed a monetary penalty of ₹10 lakh (Rupees ten lakh only) on M/s Pooram Finserv Pvt Limited, Thrissur, Kerala (the company) for non-adherence with certain provisions of the RBI Master Direction - Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 and RBI Direction on Raising Money Through Private Placement of Non-Convertible Debentures (NCDs) by NBFCs dated February 20, 2015. T
ਜਨ 31, 2022
Reserve Bank of India imposes monetary penalty on Dharamvir Sambhaji Urban Co-operative Bank Ltd., Pune
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Dharamvir Sambhaji Urban Co-operative Bank Ltd., Pune (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1) (c) read with Section 46(4) (i)
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Dharamvir Sambhaji Urban Co-operative Bank Ltd., Pune (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1) (c) read with Section 46(4) (i)
ਜਨ 31, 2022
Reserve Bank of India imposes monetary penalty on Hutatma Sahakari Bank Ltd., Walwa, Sangli
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Hutatma Sahakari Bank Ltd., Walwa, Sangli (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1) (c) read with Section 46(4) (i) and Section
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Hutatma Sahakari Bank Ltd., Walwa, Sangli (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1) (c) read with Section 46(4) (i) and Section
ਜਨ 31, 2022
Reserve Bank of India imposes monetary penalty on National Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on National Co-operative Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customers (KYC) Directions, 2016 (as updated from time to time). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1) (c) read with Section 46(4)
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on National Co-operative Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customers (KYC) Directions, 2016 (as updated from time to time). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1) (c) read with Section 46(4)
ਜਨ 31, 2022
Reserve Bank of India imposes monetary penalty on Navbharat Co-operative Urban Bank Ltd., Hyderabad, Telengana
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹12.00 lakh (Rupees Twelve lakh only) on Navbharat Co-operative Urban Bank Ltd., Hyderabad for (i) violation of directions issued under Supervisory Action Framework, (ii) violation of directions relating to Basic Cybersecurity Framework and (iii) non-compliance with requirements on IS Audit and Internal Audit Compliance. This penalty has been imposed in exercise of p
The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹12.00 lakh (Rupees Twelve lakh only) on Navbharat Co-operative Urban Bank Ltd., Hyderabad for (i) violation of directions issued under Supervisory Action Framework, (ii) violation of directions relating to Basic Cybersecurity Framework and (iii) non-compliance with requirements on IS Audit and Internal Audit Compliance. This penalty has been imposed in exercise of p
ਜਨ 24, 2022
Reserve Bank of India imposes monetary penalty on Vasai Janata Sahakari Bank Ltd., Dist. Palghar
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Vasai Janata Sahakari Bank Ltd., Dist. Palghar (the bank) for contravention of/non-compliance with the directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) a
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Vasai Janata Sahakari Bank Ltd., Dist. Palghar (the bank) for contravention of/non-compliance with the directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) a
ਜਨ 24, 2022
Reserve Bank of India imposes monetary penalty on The Varachha Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated January 19, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on “The Varachha Co-operative Bank Ltd.”, Surat (Gujarat) (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with Circular on 'The Depositor Education and Awareness Fund Sche
The Reserve Bank of India (RBI) has, by an order dated January 19, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on “The Varachha Co-operative Bank Ltd.”, Surat (Gujarat) (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with Circular on 'The Depositor Education and Awareness Fund Sche
ਜਨ 24, 2022
Reserve Bank of India imposes monetary penalty on Rajkot Peoples Co-operative Bank Ltd., Rajkot (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated January 18, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on “Rajkot Peoples Co-operative Bank Ltd.”, Rajkot (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47A(1)(c) read with S
The Reserve Bank of India (RBI) has, by an order dated January 18, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on “Rajkot Peoples Co-operative Bank Ltd.”, Rajkot (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47A(1)(c) read with S
ਜਨ 24, 2022
Reserve Bank of India imposes monetary penalty on Mogaveera Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Mogaveera Co-operative Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with directions contained in the Supervisory Action Framework (SAF) issued to the bank and Know Your Customers (KYC) Directions, 2016 (as updated from time to time) issued by RBI under section 36 (1) and section 35 A read with section 56 of the
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Mogaveera Co-operative Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with directions contained in the Supervisory Action Framework (SAF) issued to the bank and Know Your Customers (KYC) Directions, 2016 (as updated from time to time) issued by RBI under section 36 (1) and section 35 A read with section 56 of the
ਜਨ 24, 2022
Reserve Bank of India imposes monetary penalty on The Associate Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated January 19, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on The Associate Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’, and non-compliance with the Master Directions on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of
The Reserve Bank of India (RBI) has, by an order dated January 19, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on The Associate Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’, and non-compliance with the Master Directions on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of
ਜਨ 24, 2022
Reserve Bank of India imposes monetary penalty on M/s Bhadradri Co-operative Urban Bank Ltd., Khammam, Telangana
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Bhadradri Co-operative Urban Bank Ltd., for non-compliance with directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions-UCBs’ and ‘Management of Advances – UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Se
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Bhadradri Co-operative Urban Bank Ltd., for non-compliance with directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions-UCBs’ and ‘Management of Advances – UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Se
ਜਨ 24, 2022
Reserve Bank of India imposes monetary penalty on The Jammu Central Co-operative Bank Ltd., Jammu
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Jammu Central Co-operative Bank Ltd., Jammu (the bank) for contravention of provisions of Section 6 and Section 9 read with Section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 o
The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Jammu Central Co-operative Bank Ltd., Jammu (the bank) for contravention of provisions of Section 6 and Section 9 read with Section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 o
ਜਨ 24, 2022
RBl imposes monetary penalty on the Jodhpur Nagrik Sahakari Bank Ltd., Jodhpur
The Reserve Bank of India (RBl) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Jodhpur Nagrik Sahakari Bank Ltd., Jodhpur (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers ves
The Reserve Bank of India (RBl) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Jodhpur Nagrik Sahakari Bank Ltd., Jodhpur (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers ves
ਜਨ 17, 2022
Reserve Bank of India imposes monetary penalty on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated January 11, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read with
The Reserve Bank of India (RBI) has, by an order dated January 11, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read with
ਜਨ 10, 2022
Reserve Bank of India imposes monetary penalty on Gayatri Co-operative Urban Bank Ltd., Jagtial, Telangana State
The Reserve Bank of India (RBI) has imposed, by an order dated January 4, 2022, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Gayatri Co-operative Urban Bank Ltd., Jagtial, Telangana (the bank) for contravention of / non-compliance with provisions of Section 9 read with Section 56 Banking Regulation Act, 1949 (the Act) and certain provisions of the directions issued by RBI contained in the Master Circular on Exposure Norms and Statutory / Other Restrictio
The Reserve Bank of India (RBI) has imposed, by an order dated January 4, 2022, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Gayatri Co-operative Urban Bank Ltd., Jagtial, Telangana (the bank) for contravention of / non-compliance with provisions of Section 9 read with Section 56 Banking Regulation Act, 1949 (the Act) and certain provisions of the directions issued by RBI contained in the Master Circular on Exposure Norms and Statutory / Other Restrictio
ਦਸੰ 24, 2021
Reserve Bank of India imposes monetary penalty on Dattatraya Maharaj Kalambe Jaoli Sahakari Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated December 20, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on Dattatraya Maharaj Kalambe Jaoli Sahakari Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46
The Reserve Bank of India (RBI) has imposed, by an order dated December 20, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on Dattatraya Maharaj Kalambe Jaoli Sahakari Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46
ਦਸੰ 24, 2021
Reserve Bank of India imposes monetary penalty on Chiplun Urban Co-operative Bank Ltd., Ratnagiri
The Reserve Bank of India (RBI) has imposed, by an order dated December 20, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Chiplun Urban Co-operative Bank Ltd., Ratnagiri (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
The Reserve Bank of India (RBI) has imposed, by an order dated December 20, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Chiplun Urban Co-operative Bank Ltd., Ratnagiri (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
ਦਸੰ 24, 2021
Reserve Bank of India imposes monetary penalty on MUFG Bank Ltd
The Reserve Bank of India (RBI) has imposed, by an order dated December 23, 2021, a monetary penalty of ₹30 Lakh (Rupees Thirty Lakh only) on MUFG Bank Ltd. (the bank), for non-compliance with the directions issued by RBI on “Loans and Advances – Statutory and Other Restrictions”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 (the Act) Thi
The Reserve Bank of India (RBI) has imposed, by an order dated December 23, 2021, a monetary penalty of ₹30 Lakh (Rupees Thirty Lakh only) on MUFG Bank Ltd. (the bank), for non-compliance with the directions issued by RBI on “Loans and Advances – Statutory and Other Restrictions”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 (the Act) Thi
ਦਸੰ 23, 2021
Reserve Bank of India imposes Monetary Penalty on two Payment System Operators
The Reserve Bank of India (RBI) has imposed monetary penalty on the following two Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act). Sr. No. Name of the PSO Speaking Order dated Amount of Penalty (₹ lakh) 1 One Mobikwik Systems Private Limited December 07, 2021 100.00 2 Spice Money Limited December 07, 2021 100.00 The penalties have been imposed in exercise of p
The Reserve Bank of India (RBI) has imposed monetary penalty on the following two Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act). Sr. No. Name of the PSO Speaking Order dated Amount of Penalty (₹ lakh) 1 One Mobikwik Systems Private Limited December 07, 2021 100.00 2 Spice Money Limited December 07, 2021 100.00 The penalties have been imposed in exercise of p
ਦਸੰ 16, 2021
Reserve Bank of India imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Jabalpur (M.P.)
The Reserve Bank of India (RBl) has imposed, by an order dated December 15, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Jila Sahakari Kendriya Bank Maryadit, Jabalpur (M.P.) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A
The Reserve Bank of India (RBl) has imposed, by an order dated December 15, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Jila Sahakari Kendriya Bank Maryadit, Jabalpur (M.P.) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A
ਦਸੰ 16, 2021
Reserve Bank of India imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Rajgarh (M.P.)
The Reserve Bank of India (RBl) has imposed, by an order dated December 15, 2021, a monetary penalty of ₹50,000 (Rupees Fifty thousand only) on Jila Sahakari Kendriya Bank Maryadit, Rajgarh (M.P.) (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Ban
The Reserve Bank of India (RBl) has imposed, by an order dated December 15, 2021, a monetary penalty of ₹50,000 (Rupees Fifty thousand only) on Jila Sahakari Kendriya Bank Maryadit, Rajgarh (M.P.) (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Ban
ਦਸੰ 16, 2021
Reserve Bank of India imposes monetary penalty on Mahila Nagrik Sahakari Bank Maryadit, Mahasamund (C.G)
The Reserve Bank of India (RBl) has imposed, by an order dated December 15, 2021, a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty thousand only) on Mahila Nagrik Sahakari Bank Maryadit, Mahasamund, Chhattisgarh (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the pro
The Reserve Bank of India (RBl) has imposed, by an order dated December 15, 2021, a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty thousand only) on Mahila Nagrik Sahakari Bank Maryadit, Mahasamund, Chhattisgarh (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the pro
ਦਸੰ 15, 2021
RBI imposes monetary penalty on Punjab National Bank
The Reserve Bank of India (RBI) has, by an order dated December 15, 2021, imposed a monetary penalty of ₹1.80 Crore (Rupees One Crore and eighty lakh only) on Punjab National Bank (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Act. This action is base
The Reserve Bank of India (RBI) has, by an order dated December 15, 2021, imposed a monetary penalty of ₹1.80 Crore (Rupees One Crore and eighty lakh only) on Punjab National Bank (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Act. This action is base
ਦਸੰ 15, 2021
Reserve Bank of India imposes monetary penalty on ICICI Bank Ltd.
The Reserve Bank of India (RBI) has imposed, by an order dated December 13, 2021, a monetary penalty of ₹30 Lakh (Rupees Thirty Lakh only) on ICICI Bank Ltd. (the bank) for non-compliance with certain directions issued by RBI on ‘Levy of penal charges on non-maintenance of minimum balances in savings bank accounts’ dated November 20, 2014. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 4
The Reserve Bank of India (RBI) has imposed, by an order dated December 13, 2021, a monetary penalty of ₹30 Lakh (Rupees Thirty Lakh only) on ICICI Bank Ltd. (the bank) for non-compliance with certain directions issued by RBI on ‘Levy of penal charges on non-maintenance of minimum balances in savings bank accounts’ dated November 20, 2014. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 4
ਦਸੰ 08, 2021
RBl imposes monetary penalty on the Urban Co-operative Bank Ltd., Anantnag
The Reserve Bank of India (RBl) has imposed, by an order dated December 08, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Urban Co-Operative Bank Limited, Anantnag (the bank) for contravention of section 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Exposure Norms and Statutory/Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1)
The Reserve Bank of India (RBl) has imposed, by an order dated December 08, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Urban Co-Operative Bank Limited, Anantnag (the bank) for contravention of section 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Exposure Norms and Statutory/Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1)
ਦਸੰ 06, 2021
RBI imposes monetary penalty on Pune People’s Co-operative Bank Limited, Pune
The Reserve Bank of India (RBI) has imposed, by an order dated December 02, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Pune People’s Co-operative Bank Limited, Pune (the bank) for contravention of/non-compliance with directions issued by RBI on ‘Know Your Customers’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act,
The Reserve Bank of India (RBI) has imposed, by an order dated December 02, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Pune People’s Co-operative Bank Limited, Pune (the bank) for contravention of/non-compliance with directions issued by RBI on ‘Know Your Customers’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act,
ਨਵੰ 29, 2021
RBI imposes monetary penalty on Union Bank of India
The Reserve Bank of India (RBI) has, by an order dated November 25, 2021, imposed a monetary penalty of ₹1 Crore (Rupees One Crore only) on Union Bank of India (the bank), for non-compliance with the certain provisions of directions issued by RBI contained in “Reserve Bank of India (Fraud - Classification and Reporting by commercial banks and select FIs) Directions 2016” and “Guidelines on Sale of Stressed Assets by Banks”. This penalty has been imposed in exercise of
The Reserve Bank of India (RBI) has, by an order dated November 25, 2021, imposed a monetary penalty of ₹1 Crore (Rupees One Crore only) on Union Bank of India (the bank), for non-compliance with the certain provisions of directions issued by RBI contained in “Reserve Bank of India (Fraud - Classification and Reporting by commercial banks and select FIs) Directions 2016” and “Guidelines on Sale of Stressed Assets by Banks”. This penalty has been imposed in exercise of
ਨਵੰ 26, 2021
Reserve Bank of India imposes monetary penalty on State Bank of India
The Reserve Bank of India (RBI) has, by an order dated November 16, 2021, imposed a monetary penalty of ₹1.00 Crore (Rupees One Crore only) on State Bank of India (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Act. This action is based on deficiencies
The Reserve Bank of India (RBI) has, by an order dated November 16, 2021, imposed a monetary penalty of ₹1.00 Crore (Rupees One Crore only) on State Bank of India (the bank) for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Act. This action is based on deficiencies
ਨਵੰ 26, 2021
RBI imposes monetary penalty on The Rander People’s Co-operative Bank Ltd., Rander, Surat District, Gujarat
The Reserve Bank of India (RBI) has, by an order dated November 26, 2021, imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Rander People’s Co-operative Bank Ltd., Surat, Gujarat (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read
The Reserve Bank of India (RBI) has, by an order dated November 26, 2021, imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Rander People’s Co-operative Bank Ltd., Surat, Gujarat (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read
ਨਵੰ 26, 2021
RBI imposes monetary penalty on The Modasa Nagarik Sahakari Bank Ltd., Modasa, Aravalli District, Gujarat
The Reserve Bank of India (RBI) has, by an order dated November 26, 2021, imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Modasa Nagarik Sahakari Bank Ltd., Aravalli, Gujarat (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read w
The Reserve Bank of India (RBI) has, by an order dated November 26, 2021, imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Modasa Nagarik Sahakari Bank Ltd., Aravalli, Gujarat (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read w
ਨਵੰ 24, 2021
RBI imposes Monetary Penalty on two Payment System Operators
The Reserve Bank of India (RBI) has imposed monetary penalty on the following authorised Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26(6) of the Payment and Settlement Systems Act, 2007 (PSS Act). Sr. No. Name of the PSO Speaking Order dated Amount of Penalty (₹ lakh) 1 Tata Communications Payment Solutions Limited (TCPSL) October 21, 2021 200.00 2 Appnit Technologies Private Limited (ATPL) November 1, 2021 54.93 The p
The Reserve Bank of India (RBI) has imposed monetary penalty on the following authorised Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26(6) of the Payment and Settlement Systems Act, 2007 (PSS Act). Sr. No. Name of the PSO Speaking Order dated Amount of Penalty (₹ lakh) 1 Tata Communications Payment Solutions Limited (TCPSL) October 21, 2021 200.00 2 Appnit Technologies Private Limited (ATPL) November 1, 2021 54.93 The p
ਨਵੰ 24, 2021
RBI imposes monetary penalty on Mulamoottil Financiers Limited, Kozhencherry, Pathanamthitta District, Kerala
The Reserve Bank of India (RBI) has, by an order dated November 24, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on Mulamoottil Financiers Limited, Kozhencherry, Pathanamthitta District, Kerala (the company) for non-adherence with certain provisions of the directions issued by the RBI on classification of Non-performing Assets contained in “Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Compan
The Reserve Bank of India (RBI) has, by an order dated November 24, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on Mulamoottil Financiers Limited, Kozhencherry, Pathanamthitta District, Kerala (the company) for non-adherence with certain provisions of the directions issued by the RBI on classification of Non-performing Assets contained in “Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Compan
ਨਵੰ 17, 2021
Reserve Bank of India imposes monetary penalty on Shri Kanyaka Nagari Sahakari Bank Limited, Chandrapur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated November 17, 2021, a monetary penalty of ₹10.50 lakh (Rupees Ten lakh Fifty Thousand only) on Shri Kanyaka Nagari Sahakari Bank Limited, Chandrapur (the bank) for contravention of/ non-compliance with Supervisory Action Framework issued by RBI under section 36 (1) read with section 56 of the Banking Regulation Act, 1949 (the Act), directions issued by the RBI to Urban Co-operative Banks on opening of On-si
The Reserve Bank of India (RBl) has imposed, by an order dated November 17, 2021, a monetary penalty of ₹10.50 lakh (Rupees Ten lakh Fifty Thousand only) on Shri Kanyaka Nagari Sahakari Bank Limited, Chandrapur (the bank) for contravention of/ non-compliance with Supervisory Action Framework issued by RBI under section 36 (1) read with section 56 of the Banking Regulation Act, 1949 (the Act), directions issued by the RBI to Urban Co-operative Banks on opening of On-si
ਨਵੰ 17, 2021
RBI imposes monetary penalty on The Nizamabad District Co-operative Central Bank Ltd., Nizamabad, Telangana
The Reserve Bank of India (RBI) has imposed, by an order dated November 17, 2021, a monetary penalty of ₹2.50 lakh (Rupees two lakh fifty thousand only) on The Nizamabad District Co-operative Central Bank Ltd., Nizamabad, Telangana for non-adherence / violation of certain directions issued by RBI contained in the Master Circular on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and Section 9 read with Section 56 of Banking Re
The Reserve Bank of India (RBI) has imposed, by an order dated November 17, 2021, a monetary penalty of ₹2.50 lakh (Rupees two lakh fifty thousand only) on The Nizamabad District Co-operative Central Bank Ltd., Nizamabad, Telangana for non-adherence / violation of certain directions issued by RBI contained in the Master Circular on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and Section 9 read with Section 56 of Banking Re
ਨਵੰ 16, 2021
Reserve Bank of India imposes monetary penalty on Anuradha Urban Co-operative Bank Ltd., Chikhli Dist. Buldhana, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated November 16, 2021, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Anuradha Urban Co-operative Bank Ltd., Chikhli, Dist. Buldhana, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of
The Reserve Bank of India (RBl) has imposed, by an order dated November 16, 2021, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Anuradha Urban Co-operative Bank Ltd., Chikhli, Dist. Buldhana, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of
ਨਵੰ 16, 2021
RBI imposes monetary penalty on Nagrik Sahakari Bank Maryadit, Durg, Chhattisgarh
The Reserve Bank of India (RBl) has imposed, by an order dated November 16, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Nagrik Sahakari Bank Maryadit, Durg, Chhattisgarh (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the pr
The Reserve Bank of India (RBl) has imposed, by an order dated November 16, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Nagrik Sahakari Bank Maryadit, Durg, Chhattisgarh (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the pr
ਨਵੰ 11, 2021
RBI imposes monetary penalty on The Deola Merchants’ Co-operative Bank Ltd., Nashik, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated November 11, 2021, a monetary penalty of ₹25,000 (Rupees Twenty Five Thousand only) on The Deola Merchants’ Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors and Exposure Norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
The Reserve Bank of India (RBl) has imposed, by an order dated November 11, 2021, a monetary penalty of ₹25,000 (Rupees Twenty Five Thousand only) on The Deola Merchants’ Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors and Exposure Norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
ਨਵੰ 09, 2021
RBl imposes monetary penalty on The Nakodar Hindu Urban Co-operative Bank Ltd., Nakodar, Punjab
The Reserve Bank of India (RBl) has imposed, by an order dated November 08, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Nakodar Hindu Urban Co-operative Bank Ltd., Nakodar, Punjab (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’. This pen
The Reserve Bank of India (RBl) has imposed, by an order dated November 08, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Nakodar Hindu Urban Co-operative Bank Ltd., Nakodar, Punjab (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’. This pen
ਅਕਤੂ 29, 2021
RBI imposes monetary penalty on The Nainital Bank Ltd., Uttarakhand
The Reserve Bank of India (RBI) has, by an order dated October 28, 2021, imposed a monetary penalty of ₹56 lakh (Rupees Fifty Six lakh only) on The Nainital Bank Ltd., Uttarakhand (the bank) for non-compliance with the directions contained in RBI circulars on “Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts” dated August 04, 2011 read with Master Circular on “Prudential Norms on Income R
The Reserve Bank of India (RBI) has, by an order dated October 28, 2021, imposed a monetary penalty of ₹56 lakh (Rupees Fifty Six lakh only) on The Nainital Bank Ltd., Uttarakhand (the bank) for non-compliance with the directions contained in RBI circulars on “Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts” dated August 04, 2011 read with Master Circular on “Prudential Norms on Income R
ਅਕਤੂ 26, 2021
RBI imposes monetary penalty on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated October 26, 2021 imposed a monetary penalty of ₹90.00 lakh (Rupees ninety lakh only) on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on “Management of Advances - UCBs”, “Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs”, with the specific directions issued to the bank vide RBI’s letter dated November 22, 20
The Reserve Bank of India (RBI) has, by an order dated October 26, 2021 imposed a monetary penalty of ₹90.00 lakh (Rupees ninety lakh only) on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on “Management of Advances - UCBs”, “Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs”, with the specific directions issued to the bank vide RBI’s letter dated November 22, 20
ਅਕਤੂ 26, 2021
RBl imposes monetary penalty on The Citizens Urban Co-operative Bank Ltd., Jalandhar, Punjab
The Reserve Bank of India (RBl) has imposed, by an order dated October 26, 2021, a monetary penalty of ₹7.00 lakh (Rupees Seven Lakh only) on The Citizens Urban Co-operative Bank Ltd., Jalandhar, Punjab (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’. This penalt
The Reserve Bank of India (RBl) has imposed, by an order dated October 26, 2021, a monetary penalty of ₹7.00 lakh (Rupees Seven Lakh only) on The Citizens Urban Co-operative Bank Ltd., Jalandhar, Punjab (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’. This penalt
ਅਕਤੂ 18, 2021
Reserve Bank of India imposes monetary penalty on State Bank of India
The Reserve Bank of India (RBI) has, by an order dated October 18, 2021, imposed a monetary penalty of ₹1 crore (Rupees One Crore only) on State Bank of India (the bank) for non-compliance with the directions contained in ‘Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47A (1) (c) read with sections 46(4)(i
The Reserve Bank of India (RBI) has, by an order dated October 18, 2021, imposed a monetary penalty of ₹1 crore (Rupees One Crore only) on State Bank of India (the bank) for non-compliance with the directions contained in ‘Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47A (1) (c) read with sections 46(4)(i
ਅਕਤੂ 18, 2021
Reserve Bank of India imposes monetary penalty on Standard Chartered Bank - India
The Reserve Bank of India (RBI) has, by an order dated October 18, 2021, imposed a monetary penalty of ₹1.95 crore (Rupees One Crore and Ninety-five Lakh only) on Standard Chartered Bank - India (the bank) for non-compliance with the directions issued by RBI on ‘Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’, ‘Cyber Security Framework in Banks’, ‘Credit Card Operations of banks’ read with ‘Guidelines on Managing
The Reserve Bank of India (RBI) has, by an order dated October 18, 2021, imposed a monetary penalty of ₹1.95 crore (Rupees One Crore and Ninety-five Lakh only) on Standard Chartered Bank - India (the bank) for non-compliance with the directions issued by RBI on ‘Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’, ‘Cyber Security Framework in Banks’, ‘Credit Card Operations of banks’ read with ‘Guidelines on Managing
ਅਕਤੂ 14, 2021
Reserve Bank of India imposes monetary penalty on KNS Bank, The Kurla Nagarik Sahakari Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated October 14, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on KNS Bank, The Kurla Nagarik Sahakari Bank Ltd., Mumbai (the bank) for contravention of Section 26-A read with section 56 of the Banking Regulation Act, 1949 (the Act), the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme) framed under section 26 A of the Act. This penalty has been imposed in exercise of powers vested i
The Reserve Bank of India (RBI) has imposed, by an order dated October 14, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on KNS Bank, The Kurla Nagarik Sahakari Bank Ltd., Mumbai (the bank) for contravention of Section 26-A read with section 56 of the Banking Regulation Act, 1949 (the Act), the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme) framed under section 26 A of the Act. This penalty has been imposed in exercise of powers vested i
ਅਕਤੂ 13, 2021
Reserve Bank of India imposes monetary penalty on The Sahyadri Sahakari Bank Limited, Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2021, a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Sahyadri Sahakari Bank Limited, Mumbai (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (the Act), the Scheme framed thereunder and for contravention of /non-compliance with the directions issued by RBI contained in the Master Circular on Frauds - Classifi
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2021, a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Sahyadri Sahakari Bank Limited, Mumbai (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (the Act), the Scheme framed thereunder and for contravention of /non-compliance with the directions issued by RBI contained in the Master Circular on Frauds - Classifi
ਅਕਤੂ 11, 2021
RBI imposes monetary penalty on Janata Sahakari Bank Ltd., Pune
The Reserve Bank of India (RBI) has, by an order dated October 07, 2021, imposed a monetary penalty of ₹30.00 lakh (Rupees thirty lakh only) on Janata Sahakari Bank Ltd., Pune (the bank) for non-compliance with specific directions dated March 06, 2018 issued by RBI under the Supervisory Action Framework (SAF) and RBI directions on ‘Frauds in UCBs: Changes in Monitoring and Reporting mechanism’. This penalty has been imposed in exercise of powers vested in RBI conferre
The Reserve Bank of India (RBI) has, by an order dated October 07, 2021, imposed a monetary penalty of ₹30.00 lakh (Rupees thirty lakh only) on Janata Sahakari Bank Ltd., Pune (the bank) for non-compliance with specific directions dated March 06, 2018 issued by RBI under the Supervisory Action Framework (SAF) and RBI directions on ‘Frauds in UCBs: Changes in Monitoring and Reporting mechanism’. This penalty has been imposed in exercise of powers vested in RBI conferre
ਅਕਤੂ 07, 2021
RBI imposes monetary penalty on Bicholim Urban Co-operative Bank Limited, Bicholim, Goa
The Reserve Bank of India (RBI) has imposed, by an order dated October 07, 2021, a monetary penalty of ₹4 lakh (Rupees Four lakh only) on Bicholim Urban Co-operative Bank Limited, Bicholim, Goa (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs, Board of Directors – UCBs and Know Your Customers (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provis
The Reserve Bank of India (RBI) has imposed, by an order dated October 07, 2021, a monetary penalty of ₹4 lakh (Rupees Four lakh only) on Bicholim Urban Co-operative Bank Limited, Bicholim, Goa (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs, Board of Directors – UCBs and Know Your Customers (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provis
ਅਕਤੂ 06, 2021
Reserve Bank of India imposes monetary penalty on The Kheda People’s Co-operative Bank Ltd., Kheda (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated October 05, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kheda People’s Co-operative Bank Ltd., Kheda (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read wi
The Reserve Bank of India (RBI) has, by an order dated October 05, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kheda People’s Co-operative Bank Ltd., Kheda (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c) read wi
ਅਕਤੂ 05, 2021
Reserve Bank of India imposes monetary penalty on The Pragati Co-operative Bank Ltd., Thara (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated October 04, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Pragati Co-operative Bank Ltd., Thara (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed in
The Reserve Bank of India (RBI) has, by an order dated October 04, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Pragati Co-operative Bank Ltd., Thara (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed in
ਅਕਤੂ 04, 2021
RBI imposes monetary penalty on Balasinor Nagrik Sahakari Bank Ltd., Balasinor, Dist. Mahisagar (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated October 01, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Balasinor Nagrik Sahakari Bank Ltd., Balasinor, Dist. Mahisagar (Gujarat) (the bank) for non-compliance with directions issued by the 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 under the provisions of Secti
The Reserve Bank of India (RBI) has, by an order dated October 01, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Balasinor Nagrik Sahakari Bank Ltd., Balasinor, Dist. Mahisagar (Gujarat) (the bank) for non-compliance with directions issued by the 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 under the provisions of Secti
ਅਕਤੂ 01, 2021
Reserve Bank of India imposes monetary penalty on Adarsh Mahila Nagari Sahakari Bank Limited, Aurangabad
The Reserve Bank of India (RBl) has imposed, by an order dated October 01, 2021, a monetary penalty of ₹25.00 lakh (Rupees Twenty Five Lakh only) on Adarsh Mahila Nagari Sahakari Bank Limited, Aurangabad, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms and Statutory/ Other Restrictions-UCBs, Board of Directors-UCBs and opening of On-site ATMs. This penalty has been imposed
The Reserve Bank of India (RBl) has imposed, by an order dated October 01, 2021, a monetary penalty of ₹25.00 lakh (Rupees Twenty Five Lakh only) on Adarsh Mahila Nagari Sahakari Bank Limited, Aurangabad, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms and Statutory/ Other Restrictions-UCBs, Board of Directors-UCBs and opening of On-site ATMs. This penalty has been imposed
ਸਤੰ 29, 2021
RBI imposes monetary penalty on The Madura Sourashtra Co-operative Bank Ltd. (A-336), Madurai, Tamil Nadu
The Reserve Bank of India (RBI) has imposed, by an order dated September 29, 2021, a monetary penalty of ₹2.50 lakh (Rupees two lakh fifty thousand only) on The Madura Sourashtra Co-operative Bank Ltd. (A-336) for non-adherence / violation of directions issued under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking
The Reserve Bank of India (RBI) has imposed, by an order dated September 29, 2021, a monetary penalty of ₹2.50 lakh (Rupees two lakh fifty thousand only) on The Madura Sourashtra Co-operative Bank Ltd. (A-336) for non-adherence / violation of directions issued under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking
ਸਤੰ 28, 2021
RBI imposes monetary penalty on Amrit Malwa Capital Limited, Jalandhar, Punjab
The Reserve Bank of India (RBI) has, by an order dated September 28, 2021, imposed a monetary penalty of ₹10 lakh (Rupees Ten Lakh only) on Amrit Malwa Capital Limited, Jalandhar, Punjab (the company), for non-compliance with certain provisions of the ‘Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with cl
The Reserve Bank of India (RBI) has, by an order dated September 28, 2021, imposed a monetary penalty of ₹10 lakh (Rupees Ten Lakh only) on Amrit Malwa Capital Limited, Jalandhar, Punjab (the company), for non-compliance with certain provisions of the ‘Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with cl
ਸਤੰ 27, 2021
RBI imposes monetary penalty on RBL Bank Limited
The Reserve Bank of India (RBI) has, by an order dated September 27, 2021, imposed a monetary penalty of ₹2.00 crore (Rupees Two Crore only) on RBL Bank Limited (the bank) for contravention of section 28 (h) of the Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 and for non-compliance with the provisions of clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949 (the Act). For the non-compliance with the provisions of sectio
The Reserve Bank of India (RBI) has, by an order dated September 27, 2021, imposed a monetary penalty of ₹2.00 crore (Rupees Two Crore only) on RBL Bank Limited (the bank) for contravention of section 28 (h) of the Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 and for non-compliance with the provisions of clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949 (the Act). For the non-compliance with the provisions of sectio
ਸਤੰ 27, 2021
Reserve Bank of India imposes monetary penalty on The Jammu & Kashmir State Co-operative Bank Limited, Srinagar
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2021, a monetary penalty of ₹11.00 lakh on The Jammu & Kashmir State Co-operative Bank Limited, Srinagar (the bank) for contravention of section 23 read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act,
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2021, a monetary penalty of ₹11.00 lakh on The Jammu & Kashmir State Co-operative Bank Limited, Srinagar (the bank) for contravention of section 23 read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act,
ਸਤੰ 24, 2021
RBI imposes monetary penalty on Apna Sahakari Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has, by an order dated September 23, 2021, imposed a monetary penalty of ₹79.00 lakh (Rupees seventy-nine lakh only) on Apna Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and other related matters (IRAC norms)’, ‘Interest Rate on Deposits’ and ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in
The Reserve Bank of India (RBI) has, by an order dated September 23, 2021, imposed a monetary penalty of ₹79.00 lakh (Rupees seventy-nine lakh only) on Apna Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and other related matters (IRAC norms)’, ‘Interest Rate on Deposits’ and ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in
ਸਤੰ 21, 2021
Reserve Bank of India imposes monetary penalty on Porbandar Commercial Co-operative Bank Ltd., Porbandar (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated September 21, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Porbandar Commercial Co-operative Bank Ltd., Porbandar (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c)
The Reserve Bank of India (RBI) has, by an order dated September 21, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Porbandar Commercial Co-operative Bank Ltd., Porbandar (Gujarat) (the bank) for contravention of 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 under the provisions of Section 47 A (1) (c)
ਸਤੰ 20, 2021
RBI imposes monetary penalty on The Bhandara District Central Co-operative Bank Limited, Bhandara, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated September 20, 2021, a monetary penalty of ₹13,000/- (Rupees Thirteen Thousand only) on The Bhandara District Central Co-operative Bank Limited, Bhandara, Maharashtra (the bank) for contravention of /non-compliance with the provisions of the Credit Information Companies (Regulation) Act, 2005 (CIC Act) and RBI directions on membership of Credit Information Companies by Co-operative Banks. This penalty has b
The Reserve Bank of India (RBl) has imposed, by an order dated September 20, 2021, a monetary penalty of ₹13,000/- (Rupees Thirteen Thousand only) on The Bhandara District Central Co-operative Bank Limited, Bhandara, Maharashtra (the bank) for contravention of /non-compliance with the provisions of the Credit Information Companies (Regulation) Act, 2005 (CIC Act) and RBI directions on membership of Credit Information Companies by Co-operative Banks. This penalty has b
ਸਤੰ 16, 2021
RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Guna, Madhya Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated September 16, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Jila Sahakari Kendriya Bank Maryadit, Guna, Madhya Pradesh (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act), the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme) and directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed
The Reserve Bank of India (RBl) has imposed, by an order dated September 16, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Jila Sahakari Kendriya Bank Maryadit, Guna, Madhya Pradesh (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act), the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme) and directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed
ਸਤੰ 15, 2021
RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Chhatarpur, Madhya Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated September 15, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Jila Sahakari Kendriya Bank Maryadit, Chhatarpur, Madhya Pradesh (the bank) for contravention of/ non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56
The Reserve Bank of India (RBl) has imposed, by an order dated September 15, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Jila Sahakari Kendriya Bank Maryadit, Chhatarpur, Madhya Pradesh (the bank) for contravention of/ non-compliance with the directions issued by RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56
ਸਤੰ 14, 2021
Reserve Bank of India imposes monetary penalty on The Kuppam Co-operative Town Bank Ltd., Kuppam, Chittoor District., Andhra Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated September 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, Chittoor District., Andhra Pradesh (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Income Recognition, Asset Classification, Provisioning and other related Matters – UCB’s dated July 01, 2
The Reserve Bank of India (RBI) has imposed, by an order dated September 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, Chittoor District., Andhra Pradesh (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Income Recognition, Asset Classification, Provisioning and other related Matters – UCB’s dated July 01, 2
ਸਤੰ 14, 2021
Reserve Bank of India Imposes Monetary Penalty on Spice Money Limited
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹2.44 lakh (Rupees two lakh forty four thousand only) on Spice Money Limited (the entity) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Direction on Issuance and Operation of PPIs in India dated October 11, 2017 (updated as on November 17, 2020). The penalty has been imposed in exercise of powers vested in RBI under the provisions of
The Reserve Bank of India (RBI) has imposed monetary penalty of ₹2.44 lakh (Rupees two lakh forty four thousand only) on Spice Money Limited (the entity) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Direction on Issuance and Operation of PPIs in India dated October 11, 2017 (updated as on November 17, 2020). The penalty has been imposed in exercise of powers vested in RBI under the provisions of
ਸਤੰ 08, 2021
RBI imposes monetary penalty on The Swasakthi Mercantile Cooperative Urban Bank Ltd., Vijayawada, Krishna District, Andhra Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated September 08, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Swasakthi Mercantile Cooperative Urban Bank Ltd., Vijayawada (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Board of Directors – UCBs dated July 1, 2015. This penalty has been imposed in exercise of powers vested in RBI under the p
The Reserve Bank of India (RBI) has imposed, by an order dated September 08, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Swasakthi Mercantile Cooperative Urban Bank Ltd., Vijayawada (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Board of Directors – UCBs dated July 1, 2015. This penalty has been imposed in exercise of powers vested in RBI under the p
ਸਤੰ 08, 2021
RBI imposes monetary penalty on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated September 08, 2021, imposed a monetary penalty of ₹40,000 (Rupees Forty Thousand only) on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with regulatory directions issued by RBI contained in its directive on “Membership of Credit Information Companies (CICs)” and the provisions of Credit Information Companies Rules, 2006 (CIC Rules). This penalty has been imposed in exercise of powe
The Reserve Bank of India (RBI) has, by an order dated September 08, 2021, imposed a monetary penalty of ₹40,000 (Rupees Forty Thousand only) on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with regulatory directions issued by RBI contained in its directive on “Membership of Credit Information Companies (CICs)” and the provisions of Credit Information Companies Rules, 2006 (CIC Rules). This penalty has been imposed in exercise of powe
ਸਤੰ 07, 2021
RBI imposes monetary penalty on The Sutex Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated September 07, 2021, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed i
The Reserve Bank of India (RBI) has, by an order dated September 07, 2021, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed i
ਸਤੰ 06, 2021
RBI imposes monetary penalty on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai
The Reserve Bank of India (RBI) has imposed, by an order dated September 06, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai (the bank) for contravention of/non-compliance with directions issued by RBI on Know Your Customers (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking
The Reserve Bank of India (RBI) has imposed, by an order dated September 06, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai (the bank) for contravention of/non-compliance with directions issued by RBI on Know Your Customers (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking
ਸਤੰ 03, 2021
RBI imposes monetary penalty on The Akola District Central Co-operative Bank Limited, Akola (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated September 03, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Akola District Central Co-operative Bank Limited, Akola, Maharashtra (the bank) for non-compliance with certain provisions of the directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions
The Reserve Bank of India (RBl) has imposed, by an order dated September 03, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Akola District Central Co-operative Bank Limited, Akola, Maharashtra (the bank) for non-compliance with certain provisions of the directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions
ਸਤੰ 03, 2021
RBI imposes monetary penalty on Bombay Mercantile Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹50 lakh (Rupees fifty lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions dated March 05, 2018 and April 11, 2018 issued by RBI under the Supervisory Action Framew
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹50 lakh (Rupees fifty lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions dated March 05, 2018 and April 11, 2018 issued by RBI under the Supervisory Action Framew
ਸਤੰ 02, 2021
Reserve Bank of India imposes monetary penalty on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat) (the bank) for non-compliance with directions issued by RBI contained in the Circular on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ dated April 29, 2003. This penalty has been imposed in exercise of p
The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat) (the bank) for non-compliance with directions issued by RBI contained in the Circular on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ dated April 29, 2003. This penalty has been imposed in exercise of p
ਸਤੰ 01, 2021
Reserve Bank of India imposes monetary penalty on Axis Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2021, a monetary penalty of ₹25 lakh (Rupees Twenty five lakh only) on Axis Bank Limited (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. The penalty has been imposed in exercise of powers vested in RBI under provisions of section 47A(1)(c) read with section 4
The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2021, a monetary penalty of ₹25 lakh (Rupees Twenty five lakh only) on Axis Bank Limited (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. The penalty has been imposed in exercise of powers vested in RBI under provisions of section 47A(1)(c) read with section 4
ਸਤੰ 01, 2021
RBI imposes monetary penalty on Prathamik Shikshak Sahakari Bank Ltd., Satara, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated September 1, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prathamik Shikshak Sahakari Bank Ltd., Satara (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
The Reserve Bank of India (RBI) has imposed, by an order dated September 1, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prathamik Shikshak Sahakari Bank Ltd., Satara (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
ਅਗ 31, 2021
RBI imposes monetary penalty on The Bihar State Co-operative Bank Ltd., Patna
The Reserve Bank of India (RBI) has, by an order dated August 30, 2021, imposed a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on The Bihar State Co-operative Bank Ltd., Patna (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) contained in its circular on “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RB
The Reserve Bank of India (RBI) has, by an order dated August 30, 2021, imposed a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on The Bihar State Co-operative Bank Ltd., Patna (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) contained in its circular on “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RB
ਅਗ 27, 2021
RBI imposes monetary penalty on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with direction issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i)
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with direction issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i)
ਅਗ 27, 2021
RBI imposes monetary penalty on New India Co-operative Bank Ltd., Mumbai, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on New India Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI contained in the circular on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism’ dated May 19, 2016. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wi
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on New India Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI contained in the circular on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism’ dated May 19, 2016. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wi
ਅਗ 26, 2021
RBI imposes monetary penalty on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC) Directions, 2016”. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with cl
The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC) Directions, 2016”. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with cl
ਅਗ 26, 2021
RBI imposes monetary penalty on Jijamata Mahila Sahakari Bank, Pune, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Jijamata Mahila Sahakari Bank, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Jijamata Mahila Sahakari Bank, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and
ਅਗ 26, 2021
RBI imposes monetary penalty on The Muslim Co-operative Bank Limited, Pune, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Muslim Co-operative Bank Limited, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Ban
The Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Muslim Co-operative Bank Limited, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Ban
ਅਗ 25, 2021
RBl imposes monetary penalty on the Delhi Nagrik Sehkari Bank Limited, New Delhi
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers ve
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers ve
ਅਗ 25, 2021
RBl imposes monetary penalty on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and
The Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and
ਅਗ 24, 2021
RBI imposes monetary penalty on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated August 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (Gujarat) (the bank) for non-compliance with directions issued by the 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 the RBI under the provisions
The Reserve Bank of India (RBI) has, by an order dated August 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (Gujarat) (the bank) for non-compliance with directions issued by the 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 the RBI under the provisions
ਅਗ 23, 2021
RBI imposes monetary penalty on Dhanlaxmi Bank Ltd., Thrissur, Kerala
The Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2021, a monetary penalty of ₹27.50 lakh (Rupees Twenty Seven Lakh and Fifty Thousand only) on Dhanlaxmi Bank Ltd., Thrissur, Kerala (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with RBI Circular on 'The Depositor Education and Awar
The Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2021, a monetary penalty of ₹27.50 lakh (Rupees Twenty Seven Lakh and Fifty Thousand only) on Dhanlaxmi Bank Ltd., Thrissur, Kerala (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with RBI Circular on 'The Depositor Education and Awar
ਅਗ 23, 2021
RBl imposes monetary penalty on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh
The Reserve Bank of India (RBl) has imposed, by an order dated August 18, 2021, a monetary penalty of ₹20.00 lakh (Rupees Twenty Lakh only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF).
The Reserve Bank of India (RBl) has imposed, by an order dated August 18, 2021, a monetary penalty of ₹20.00 lakh (Rupees Twenty Lakh only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF).
ਅਗ 13, 2021
RBI imposes monetary penalty on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25.00 Lakh (Rupees Twenty-Five Lakh only) on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wit
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25.00 Lakh (Rupees Twenty-Five Lakh only) on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wit
ਅਗ 13, 2021
RBI imposes monetary penalty on Jalna People’s Co-operative Bank Limited, Jalna, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 13, 2021, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jalna People’s Co-operative Bank Limited, Jalna, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the
The Reserve Bank of India (RBl) has imposed, by an order dated August 13, 2021, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jalna People’s Co-operative Bank Limited, Jalna, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the
ਅਗ 13, 2021
RBI imposes monetary penalty on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty five lakh only) on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the
The Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty five lakh only) on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the
ਅਗ 12, 2021
RBI imposes monetary penalty on Village Financial Services Limited, Kolkata
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Village Financial Services Ltd, Kolkata (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Village Financial Services Ltd, Kolkata (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of
ਅਗ 12, 2021
RBI imposes monetary penalty on Cooperatieve Rabobank U.A.
The Reserve Bank of India (RBI) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹1 Crore (Rupees One Crore only) on Cooperatieve Rabobank U.A. (the bank) for contravention of provisions of Section 11 (2) (b) (ii) of the Banking Regulation Act, 1949 (the Act), and Reserve Bank directions on ‘Sections 17(1) and 11(2)(b)(ii) of Banking Regulation Act, 1949- Transfer to Reserve Funds’ dated September 23, 2000. The penalty has been imposed in exercise
The Reserve Bank of India (RBI) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹1 Crore (Rupees One Crore only) on Cooperatieve Rabobank U.A. (the bank) for contravention of provisions of Section 11 (2) (b) (ii) of the Banking Regulation Act, 1949 (the Act), and Reserve Bank directions on ‘Sections 17(1) and 11(2)(b)(ii) of Banking Regulation Act, 1949- Transfer to Reserve Funds’ dated September 23, 2000. The penalty has been imposed in exercise
ਅਗ 11, 2021
RBI imposes monetary penalty on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
The Reserve Bank of India (RBl) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
ਅਗ 11, 2021
RBI imposes monetary penalty on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad, Gujarat
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ read with ‘Loans and advances to directors etc - directors as surety/guarantors- Clarification’ and ‘Placement
The Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ read with ‘Loans and advances to directors etc - directors as surety/guarantors- Clarification’ and ‘Placement
ਅਗ 10, 2021
RBI imposes monetary penalty on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under th
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under th
ਅਗ 10, 2021
RBI imposes monetary penalty on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors – UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sect
The Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors – UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sect
ਅਗ 10, 2021
RBI imposes monetary penalty on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated August 09, 2021, a monetary penalty of ₹10 lakh (Rupees ten lakh only) on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Loans and Advances to Directors, Relatives and Firms/Concerns in which they are Interested; Supervisory action framework issued by RBI under section 35 A and section 36 read with
The Reserve Bank of India (RBI) has imposed, by an order dated August 09, 2021, a monetary penalty of ₹10 lakh (Rupees ten lakh only) on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Loans and Advances to Directors, Relatives and Firms/Concerns in which they are Interested; Supervisory action framework issued by RBI under section 35 A and section 36 read with
ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਮੋਬਾਈਲ ਐਪਲੀਕੇਸ਼ਨ ਇੰਸਟਾਲ ਕਰੋ ਅਤੇ ਨਵੀਨਤਮ ਖਬਰਾਂ ਤੱਕ ਤੇਜ਼ ਐਕਸੈਸ ਪ੍ਰਾਪਤ ਕਰੋ!
ਪੇਜ ਅੰਤਿਮ ਅੱਪਡੇਟ ਦੀ ਤਾਰੀਖ: ਅਕਤੂਬਰ 29, 2024
