Press Releases - Enforcement - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਮਈ 02, 2023
RBI imposes monetary penalty on Ambarnath Jaihind Co-operative Bank Ltd., Ambarnath, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated April 26, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Ambarnath Jaihind Co-operative Bank Ltd., Ambarnath(Maharashtra) (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customers’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulation Act, 1949 (BR Act
The Reserve Bank of India (RBI) has, by an order dated April 26, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Ambarnath Jaihind Co-operative Bank Ltd., Ambarnath(Maharashtra) (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customers’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulation Act, 1949 (BR Act
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ਮਈ 02, 2023
RBI imposes monetary penalty on the National Urban Co-operative Bank Limited, Pratapgarh (UP)
The Reserve Bank of India (RBI) has, by an order dated April 27, 2023, imposed a monetary penalty of ₹10.00 lakh (Rupees Ten Lakh only) on the National Urban Co-operative Bank Limited, Pratapgarh (UP)(the bank) for contravention of section 35A and section 36 (1) (a) 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 sec
The Reserve Bank of India (RBI) has, by an order dated April 27, 2023, imposed a monetary penalty of ₹10.00 lakh (Rupees Ten Lakh only) on the National Urban Co-operative Bank Limited, Pratapgarh (UP)(the bank) for contravention of section 35A and section 36 (1) (a) 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 sec
ਮਈ 02, 2023
RBI imposes monetary penalty on The Sutex Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated April 27, 2023, a monetary penalty of ₹10.00 lakh (Rupees Ten 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 ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exer
The Reserve Bank of India (RBI) has imposed, by an order dated April 27, 2023, a monetary penalty of ₹10.00 lakh (Rupees Ten 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 ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exer
ਮਈ 02, 2023
RBI imposes monetary penalty on The Jamnagar District Co-operative Bank Limited (Gujarat)
The Reserve Bank of India (RBI) has, by an Order dated April 27, 2023, imposed a monetary penalty of ₹4.10 lakh (Rupees Four Lakh and Ten Thousand only) on The Jamnagar District Co-operative Bank Limited (Gujarat) (the bank) for contravention of / non-compliance with section 26 A (2) 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 Educat
The Reserve Bank of India (RBI) has, by an Order dated April 27, 2023, imposed a monetary penalty of ₹4.10 lakh (Rupees Four Lakh and Ten Thousand only) on The Jamnagar District Co-operative Bank Limited (Gujarat) (the bank) for contravention of / non-compliance with section 26 A (2) 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 Educat
ਅਪ੍ਰੈ 24, 2023
RBI imposes monetary penalty on The Tamil Nadu State Apex Co-operative Bank Limited, Chennai
The Reserve Bank of India (RBI) has, by an order dated April 21, 2023, imposed a monetary penalty of ₹16.00 lakh (Rupees Sixteen Lakh only) on The Tamil Nadu State Apex Co-operative Bank Limited, Chennai (the bank), for contravention of the provisions of section 26 A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on “Review of Fr
The Reserve Bank of India (RBI) has, by an order dated April 21, 2023, imposed a monetary penalty of ₹16.00 lakh (Rupees Sixteen Lakh only) on The Tamil Nadu State Apex Co-operative Bank Limited, Chennai (the bank), for contravention of the provisions of section 26 A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on “Review of Fr
ਅਪ੍ਰੈ 24, 2023
RBI imposes monetary penalty on Janata Sahakari Bank Ltd., Pune
The Reserve Bank of India (RBI) has, by an order dated April 13, 2023, imposed a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Janata Sahakari Bank Ltd., Pune (the bank) for non-compliance with RBI directions on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 (BR Act). This action is based on defi
The Reserve Bank of India (RBI) has, by an order dated April 13, 2023, imposed a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Janata Sahakari Bank Ltd., Pune (the bank) for non-compliance with RBI directions on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 (BR Act). This action is based on defi
ਅਪ੍ਰੈ 24, 2023
RBI imposes monetary penalty on Bombay Mercantile Co-operative Bank Ltd, Mumbai
The Reserve Bank of India (RBI) has, by an order dated April 21, 2023, imposed a monetary penalty of ₹13 lakh (Rupees Thirteen lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for contravention of the provisions of section 26-A read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the BR Ac
The Reserve Bank of India (RBI) has, by an order dated April 21, 2023, imposed a monetary penalty of ₹13 lakh (Rupees Thirteen lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for contravention of the provisions of section 26-A read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the BR Ac
ਅਪ੍ਰੈ 24, 2023
RBI imposes monetary penalty on Baran Nagrik Sahkari Bank Ltd., Baran, Rajasthan
The Reserve Bank of India (RBI) has imposed, by an order dated April 18, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Baran Nagrik Sahkari Bank Ltd., Baran, Rajasthan (the bank) for contravention of Section 35 A 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 A
The Reserve Bank of India (RBI) has imposed, by an order dated April 18, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Baran Nagrik Sahkari Bank Ltd., Baran, Rajasthan (the bank) for contravention of Section 35 A 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 A
ਅਪ੍ਰੈ 17, 2023
RBI imposes monetary penalty on The Karnataka State Co-operative Apex Bank Ltd., Bengaluru
The Reserve Bank of India (RBI) has, by an order dated April 11, 2023, imposed a monetary penalty of ₹23.23 lakh (Rupees Twenty Three Lakh and Twenty Three Thousand only) on The Karnataka State Co-operative Apex Bank Ltd. (the bank), for non-compliance with the Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016 as well as directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of powers
The Reserve Bank of India (RBI) has, by an order dated April 11, 2023, imposed a monetary penalty of ₹23.23 lakh (Rupees Twenty Three Lakh and Twenty Three Thousand only) on The Karnataka State Co-operative Apex Bank Ltd. (the bank), for non-compliance with the Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016 as well as directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of powers
ਅਪ੍ਰੈ 06, 2023
RBI imposes monetary penalty on Mahindra & Mahindra Financial Services Limited, Mumbai
The Reserve Bank of India (RBI) has, by an order dated April 5, 2023 imposed a monetary penalty of ₹6.77 crore (Rupees Six crore seventy seven lakh only) on Mahindra & Mahindra Financial Services Limited, Mumbai (the company) for non-compliance with the "Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016” issued by RBI. This penalty has been imposed in exercise of powers vest
The Reserve Bank of India (RBI) has, by an order dated April 5, 2023 imposed a monetary penalty of ₹6.77 crore (Rupees Six crore seventy seven lakh only) on Mahindra & Mahindra Financial Services Limited, Mumbai (the company) for non-compliance with the "Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016” issued by RBI. This penalty has been imposed in exercise of powers vest
ਅਪ੍ਰੈ 06, 2023
RBI imposes monetary penalty on Indian Bank
The Reserve Bank of India (RBI) has, by an order dated April 06, 2023 imposed a monetary penalty of ₹55.00 lakh (Rupees Fifty Five lakh only) on Indian Bank (the bank) 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 section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 19
The Reserve Bank of India (RBI) has, by an order dated April 06, 2023 imposed a monetary penalty of ₹55.00 lakh (Rupees Fifty Five lakh only) on Indian Bank (the bank) 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 section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 19
ਅਪ੍ਰੈ 06, 2023
RBI imposes monetary penalty on Muthoot Money Limited, Ernakulam, Kerala
The Reserve Bank of India (RBI) has, by an order dated April 06, 2023, imposed a monetary penalty of ₹10.50 lakh (Rupees Ten lakh fifty thousand only) on Muthoot Money Limited, Ernakulam, Kerala (the company) for non-compliance with certain provisions of the ‘Monitoring of Frauds in NBFCs (Reserve Bank) 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 58G read with cla
The Reserve Bank of India (RBI) has, by an order dated April 06, 2023, imposed a monetary penalty of ₹10.50 lakh (Rupees Ten lakh fifty thousand only) on Muthoot Money Limited, Ernakulam, Kerala (the company) for non-compliance with certain provisions of the ‘Monitoring of Frauds in NBFCs (Reserve Bank) 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 58G read with cla
ਅਪ੍ਰੈ 03, 2023
RBI imposes monetary penalty on The Jamnagar People’s Co-operative Bank Ltd., Jamnagar (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated March 29, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Jamnagar people’s Co-operative Bank Ltd., Jamnagar (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Income Recognition, Asset Classification and Provisioning Norms for Loans and Advances’ and ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. This penalty has been imp
The Reserve Bank of India (RBI) has, by an order dated March 29, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Jamnagar people’s Co-operative Bank Ltd., Jamnagar (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Income Recognition, Asset Classification and Provisioning Norms for Loans and Advances’ and ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. This penalty has been imp
ਅਪ੍ਰੈ 03, 2023
RBI imposes monetary penalty on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated March 29, 2023, a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Board of Directors of Urban Co-operative Banks - Professionalisation and their Role - Do's and Don'ts’, ‘Prudential Norms Income Recognition, Asset Classification, Provisioning and Other Related Matters’, ‘Loa
The Reserve Bank of India (RBI) has imposed, by an order dated March 29, 2023, a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Board of Directors of Urban Co-operative Banks - Professionalisation and their Role - Do's and Don'ts’, ‘Prudential Norms Income Recognition, Asset Classification, Provisioning and Other Related Matters’, ‘Loa
ਮਾਰਚ 27, 2023
RBI imposes monetary penalty on Vyapari Sahakari Bank Maryadit, Solapur (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated March 24, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Vyapari Sahakari Bank Maryadit, Solapur (Maharashtra) (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions - UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provi
The Reserve Bank of India (RBl) has imposed, by an order dated March 24, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Vyapari Sahakari Bank Maryadit, Solapur (Maharashtra) (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions - UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provi
ਮਾਰਚ 27, 2023
RBI imposes monetary penalty on Shri. Ganesh Sahakari Bank Ltd., Navi Sangvi, Pune
The Reserve Bank of India (RBI) has, by an order dated March 23, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Shri Ganesh Sahakari Bank Ltd., Navi Sangvi, Pune (the bank) for contravention of directions issued by RBI on Know Your Customer (KYC) and Maintenance of Deposit Accounts. 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
The Reserve Bank of India (RBI) has, by an order dated March 23, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Shri Ganesh Sahakari Bank Ltd., Navi Sangvi, Pune (the bank) for contravention of directions issued by RBI on Know Your Customer (KYC) and Maintenance of Deposit Accounts. 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
ਮਾਰਚ 27, 2023
RBI imposes monetary penalty on Kolkata Police Co-operative Bank Ltd., Kolkata, West Bengal
The Reserve Bank of India (RBI) has imposed, by an order dated March 24, 2023 a monetary penalty of ₹1.10 lakh (Rupees One lakh Ten thousand only) on Kolkata Police Co-operative Bank Ltd., Kolkata, West Bengal (the bank) for contravention of/ non-adherence with certain provisions of 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 of Section 47 A (1) (c) rea
The Reserve Bank of India (RBI) has imposed, by an order dated March 24, 2023 a monetary penalty of ₹1.10 lakh (Rupees One lakh Ten thousand only) on Kolkata Police Co-operative Bank Ltd., Kolkata, West Bengal (the bank) for contravention of/ non-adherence with certain provisions of 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 of Section 47 A (1) (c) rea
ਮਾਰਚ 27, 2023
RBI imposes monetary penalty on Mehsana District Central Co-operative Bank Ltd., Mehsana (Gujarat)
The Reserve Bank of India (RBI) has, by an order dated March 24, 2023, imposed a monetary penalty of ₹2.10 lakh (Rupees two lakh ten thousand only) on Mehsana District Central Co-operative Bank Ltd., Mehsana (Gujarat) (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, and RBI directions on ‘Membership of Credit Information Companies (CIC
The Reserve Bank of India (RBI) has, by an order dated March 24, 2023, imposed a monetary penalty of ₹2.10 lakh (Rupees two lakh ten thousand only) on Mehsana District Central Co-operative Bank Ltd., Mehsana (Gujarat) (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, and RBI directions on ‘Membership of Credit Information Companies (CIC
ਮਾਰਚ 27, 2023
RBI imposes monetary penalty on the Delhi Nagrik Sehkari Bank Limited, New Delhi
The Reserve Bank of India (RBI) has, by an order dated March 16, 2023, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for contravention of section 35A and section 36 (1) (a) 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 Reserve Bank of India (RBI) has, by an order dated March 16, 2023, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for contravention of section 35A and section 36 (1) (a) 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
ਮਾਰਚ 27, 2023
RBI imposes monetary penalty on Aligarh Zila Sahkari Bank Ltd., Aligarh, Uttar Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Aligarh Zila Sahkari Bank Ltd., Aligarh, Uttar Pradesh (the bank) for contravention of provisions of section 20 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 47A(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 March 22, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Aligarh Zila Sahkari Bank Ltd., Aligarh, Uttar Pradesh (the bank) for contravention of provisions of section 20 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 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking
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