The Reserve Bank of India (RBI) has, by an order dated December 6, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Mandya City Co-operative Bank Ltd., Mandya, 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 December 10, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Ropar Central Co-operative Bank Ltd., Ropar, Punjab (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated December 04, 2024, imposed a monetary penalty of ₹3.50 lakh (Rupees Three Lakh Fifty Thousand only) on Apani Sahkari Bank Ltd., Ahmedabad, Gujarat (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms / concerns in which they are interested’, ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated December 04, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Halol Mercantile Co-operative Bank Ltd., Dist. Panchmahal, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Donations to Trusts and Institutions where Directors, their relatives hold position or are interested’ and ‘Loans and advances to directors, their relatives, and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers conferred on RBI, under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 04, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Vijapur Nagarik Sahakari Bank Ltd., Vijapur, Dist. Mehsana, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Know Your Customer’ . This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 04, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Bapatla Co-operative Urban Bank Ltd., Andhra Pradesh (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms / concerns in which they are interested’, ‘Exposure Norms and Statutory / Other Restrictions - UCBs’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI, under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has imposed, by an order dated November 29, 2024, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Patiala Central Co-operative Bank Ltd., Patiala, Punjab (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated November 25, 2024, imposed a monetary penalty of ₹4.50 lakh (Rupees Four Lakh Fifty Thousand only) on Maxvalue Credits and Investments Limited, Thrissur, Kerala (the company) for non-compliance with certain directions issued by RBI on ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ read with ‘Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI, under the provisions of Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.