The Reserve Bank of India (RBI) has, by an order dated January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Belgaum District Revenue Employees’ Co-operative Bank Limited, Belgaum, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Batlagundu Co-operative Urban Bank Limited, Dindigul, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated January 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Sivakasi Co-operative Urban Bank Limited, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

నాన్ బ్యాంకింగ్ ఫైనాన్సింగ్ కంపెనీలలో రిస్క్ ల నిర్వహణ మరియు ఆర్ధిక వ్యవహారాలను బయటి వ్యక్తుల /సంస్థల సేవల ద్వారా పొందేటప్పుడు పాటించ వలసిన ప్రవర్తన నియమావళి పై భారతీయ రిజర్వు బ్యాంకు జారీ చేసిన ఆదేశాలలో కొన్ని ఉల్లంఘించినందుకు గాను,భారతీయ రిజర్వు బ్యాంకు తమ ఉత్తర్వు తేదీ 03, జనవరి 2025 ద్వారా ఇండియన్ స్కూల్ ఫైనాన్స్ కంపెనీ ప్రైవేట్ లిమిటెడ్, తెలంగాణ పై రు.50,000/(అక్షరాల ఏభై వేల రూపాయలు మాత్రమే) ఆర్ధిక జరిమానా విధించడమైనది. భారతీయ రిజర్వు బ్యాంకు చట్టము 1934 లోని సెక్షన్ 58G(1)(b) మరియు 58 B(5)(aa)లోని అధికరణముల ద్వారా సంక్రమించిన అధికారముల కింద ఈ ఆర్ధిక జరిమానా విధించడమైనది.

The Reserve Bank of India (RBI) has, by an order dated December 26, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Yavatmal Urban Co-operative Bank Limited, Yavatmal, Maharashtra (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’, and certain directions issued by RBI on ‘Exposure Norms & Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 27, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Kolikata Mahila Co-operative Bank Limited (the bank) for contravention of provisions of Section 31 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated December 26, 2024, imposed a monetary penalty of ₹36.40 lakh (Rupees Thirty Six Lakh Forty Thousand only) on Punjab Gramin Bank, Kapurthala, Punjab (the bank) for contravention of provisions of Section 26A read with Section 51(1) of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated December 26, 2024, imposed a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on The Prime Co-operative Bank Ltd., Surat, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’ and ‘Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)’ read with ‘Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) - A Graded Approach’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Swami Vivekanand Sahakari Bank Niyamit, Nidagundi, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Sri Basaveshwara Pattana Sahakara Bank Niyamit, Sindgi, Karnataka (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Manjra Mahila Urban Co-operative Bank Limited, Bidar, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) a

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Bharat Co-operative Bank Ltd., Bengaluru (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 16, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Shree Dhandhuka Janta Sahakari Bank Ltd., Dhandhuka, dist. Ahmedabad, Gujarat (the bank) for non-compliance with certain directions issued by RBI on 'Investment by Primary (Urban) Co-operative Banks' and ' Know Your Customer (KYC) '.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of ₹1.60 lakh (Rupees One Lakh Sixty Thousand only) on Shree Laxmi Mahila Sahakari Bank Limited, Mehsana, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’, ‘Know Your Customer (KYC)’ and ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 and Section 25 of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has, by an order dated December 16, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Thasra People’s Co-operative Bank Ltd., Thasra, dist. Kheda, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances to directors, their relatives and firms/concerns in which they are interested’ and ‘Management of Advances - UCBs’.

The Reserve Bank of India (RBI) has, by an order dated December 16, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Chanasma Commercial Co-operative Bank Ltd., Chanasma, dist. Patan, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances to directors, their relatives and firms/concerns in which they are interested’ and This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Shri Janata Sahakari Bank Ltd., Halol, Dist. Panchmahal, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’ and ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 12, 2024, imposed a monetary penalty of ₹5.96 lakh (Rupees Five lakh ninety six thousand only) on Vaishya Sahakari Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to the Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Tarapur Co-operative Urban Bank Ltd., Dist. Anand, Gujarat (the bank) for non-compliance with the certain directions 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 conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Bhadran People’s Co-operative Bank Ltd., Dist. Anand, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Interest Rate on Deposits’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.