The Reserve Bank of India (RBI) has, by an order dated July 03, 2024, imposed a monetary penalty of ₹25,000/- (Rupees Twenty-five thousand only) on Sivagangai District Central Co-operative Bank Limited, Sivagangai, Tamil Nadu (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds- Guidelines for Classification, Reporting and Monitoring’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBl) has, by an order dated June 28, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two lakh Fifty thousand only) on Pusad Urban Co-operative Bank Ltd., Pusad, Maharashtra (the bank), for contravention of specific directions issued by RBI under ‘Supervisory Action Framework (SAF) for Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated June 25, 2024, imposed a monetary penalty of ₹7.50 lakh (Rupees Seven lakh Fifty thousand only) on The Gujarat Rajya Karmachari Co-operative Bank Ltd., Ahmedabad, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Financial Statements - Presentation and Disclosures’, ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’, ‘Co-operative Banks - Interest Rate on Deposits’ and contravention of the provisions of sub-section (2) of section 35 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 the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act as well as provisions of section 47A(1)(a) read with sections 46(2) and 56 of the BR Act.

ریزرو بینک آف انڈیا (آر بی آئی) نے 26 جون 2024 کو اپنے صارف کو جانیں (KYC) پر RBI کی طرف سے جاری کردہ ہدایات کی تعمیل نہ کرنے پرایک حکم کے ذریعے دی بینک ایمپلائز کوآپریٹو بینک لمیٹڈ، مغربی بنگال (بینک) پر 1.00 لاکھ روپے (صرف ایک لاکھ روپے) کا مانیٹری جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے

ریزرو بینک آف انڈیا (آر بی آئی) نے 21 جون 2024 کو آر بی آئی کی طرف سے نمائشی اصولوں اور قانونی/دیگر پابندیوں UCBs پر جاری کردہ ہدایات کی تعمیل نہ کرنے پرایک حکم کے ذریعہ ہیرا سوگر ایمپلائز کوآپریٹو بینک لمیٹڈ، بیلگاوی، کرناٹک (بینک) پر 25,000/- (روپے صرف پچیس ہزار) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے

ریزرو بینک آف انڈیا (آر بی آئی) نے 28 مئی 2024 کو آر بی آئی کی جانب سے جاری کردہ ہدایات ، جو "ڈائریکٹرز، ان کے رشتہ داروں، اور ان کے مفاد سے متعلق فرموں/اداروں کو قرضے اور ایڈوانسز" کے بارے میں ہیں، اور "ڈائریکٹرز کو قرضے اور ایڈوانسز وغیرہ - بطور ضامن/گارنٹر ڈائریکٹرز - وضاحت" کے ساتھ پڑھی جاتی پر عمل نہ کرنے کے حوالے سے ایک کم کے ذریعے گجرات امبوجا کوآپریٹو بینک لمیٹڈ، احمد آباد، گجرات (بینک) پر ₹ 1.00 لاکھ (صرف ایک لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے

ریزرو بینک آف انڈیا (آر بی آئی) نے 11 جون 2024 کو نمائشی اصولوں اور قانونی/دیگر پابندیوں UCBs پر RBI کی ہدایات کی کچھ دفعات کی عدم تعمیل کے لیےایک حکم کے ذریعے رام نگرم اربن کوآپریٹو بینک لمیٹڈ، کرناٹک (بینک) پر ₹ 75,000/- (صرف پچھتر ہزار روپے) کا مانیٹری جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے

ریزرو بینک آف انڈیا (آر بی آئی) نے 11 جون 2024 کو نیشنل بینک فار ایگریکلچر اینڈ رورل ڈویلپمنٹ (NABARD) کی طرف سے 'فراڈ - درجہ بندی رپورٹنگ اور مانیٹرنگ کے رہنما خطوط' پر جاری کردہ ہدایات کی تعمیل نہ کرنے پرایک حکم کے ذریعے دی کانچی پورم سنٹرل کوآپریٹو بینک لمیٹڈ کانچی پورم تمل ناڈو (بینک) پر 50,000/- روپے (صرف پچاس ہزار روپے) کا مانیٹری جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 05 جون 2024 کو نیشنل بینک فار ایگریکلچر اینڈ رورل ڈویلپمنٹ (NABARD) کی طرف سے 'فراڈز - درجہ بندی رپورٹنگ اور مانیٹرنگ کے رہنما خطوط' پر جاری کردہ ہدایات کی تعمیل نہ کرنے پرایک حکم کے ذریعے پرکاسم ڈسٹرکٹ کوآپریٹو سنٹرل بینک لمیٹڈ، اونگول، آندھرا پردیش، (بینک) پر 50,000/- روپے (صرف پچاس ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے

ریزرو بینک آف انڈیا (RBI) نے 05 جون، 2024 کو آر بی آئی کی طرف سے 'ایکسپوزر نارمز اور قانونی/دیگر پابندیاں UCBs' پر جاری کردہ کچھ ہدایات کی عدم تعمیل کے لیےایک حکم کے ذریعے وشواکالیان سہکارا بینک نیامت، ہبلی، کرناٹک (بینک) پر ₹25,000/- (صرف پچیس ہزار روپے) کا مانیٹری جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 03 جون 2024 کو اپنے کسٹمر کو جانیں (KYC) ڈائریکشن 2016 پر RBI کی طرف سے جاری کردہ ماسٹر ڈائریکشن کی عدم تعمیل کے لیےایک حکم کے ذریعہ انگول یونائیٹڈ سنٹرل کوآپریٹو بینک لمیٹڈ اوڈیشہ (بینک) پر 1,00,000/- (صرف ایک لاکھ روپے) کا مانیٹری جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے۔

The Reserve Bank of India (RBI) has, by an order dated May 22, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Bavla Nagarik Sahakari Bank Ltd., Dist. Ahmedabad, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are Interested’ read with ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’ and ‘Master Direction - Know Your Customer (KYC) Direction, 2016’. 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 May 22, 2024, imposed a monetary penalty of ₹75,000/- (Rupees Seventy Five Thousand only) on The Ron Taluka Primary Teachers Co-operative Bank Ltd., Ron, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Frauds monitoring and reporting mechanism’ and ‘Policy and Practice regarding Nominal Membership’. 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. 

ریزرو بینک آف انڈیا (آر بی آئی) نے 22 مئی 2024 کو ڈائریکٹروں کے رشتہ داروں اور فرموں/ خدشات کو جن میں وہ دلچسپی رکھتے ہیں قرضوں اور ایڈوانس سے متعلق آر بی آئی کی طرف سے جاری کردہ ہدایات کی تعمیل نہ کرنے پر ڈائریکٹروں کو قرضوں اور ایڈوانس وغیرہ ڈائریکٹروں کو بطور ضامن/گواہ کی وضاحت پرایک حکم کے ذریعہ گاندھی نگر اربن کوآپریٹو بینک لمیٹڈ گاندھی نگر گجرات (بینک) پر ₹ 1.00 لاکھ (صرف ایک لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 26 اپریل 2024 کو'پرائمری (شہری) کوآپریٹو بینکوں (UCBs) کے لیے جامع سائبر سیکیورٹی فریم ورک - ایک درجہ بند نقطہ نظر' اور 'غیر فعال کھاتوں میں کم از کم بیلنس برقرار نہ رکھنے پر تعزیری چارجز' پر آر بی آئی کی طرف سے جاری کردہ ہدایات کی تعمیل نہ کرنے پرایک حکم کے ذریعے دی سوٹیکس کوآپریٹو بینک لمیٹڈ سورت گجرات (بینک) پر 5.00 لاکھ روپے (صرف پانچ لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 8 مئی 2024 کو 'پرائمری (اربن) کوآپریٹو بینکوں (UCBs) کے ذریعے دیگر بینکوں کے ساتھ ڈپازٹ کی جگہ' پر RBI کی طرف سے جاری کردہ ہدایات کی تعمیل نہ کرنے پر ایک حکم کے ذریعے دی باپو نگر مہیلا کوآپریٹو بینک لمیٹڈ احمد آباد گجرات (بینک) پر ₹ 2.00 لاکھ (صرف دو لاکھ روپے) کا مالیاتی جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور 56 کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے۔

ریزرو بینک آف انڈیا (RBl) نے 25 اپریل، 2024، کو سپروائزری ایکشن فریم ورک (SAF) کے تحت RBI کی طرف سے جاری کردہ مخصوص ہدایات کی خلاف ورزی کے لیےایک حکم کے ذریعے دی وائجا پور مرچنٹس کوآپریٹو بینک لمیٹڈ، ویجا پور، مہاراشٹر (بینک) پر 2.50 لاکھ روپے (صرف دو لاکھ پچاس ہزار روپے) کا مانیٹری جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کے سیکشن 47A(1)(c) کے تحت دیئے گئے اختیارات کے استعمال میں لگایا گیا ہے جسے بینکنگ ریگولیشن ایکٹ 1949 کے سیکشن 46(4)(i) اور سیکشن 56 کے ساتھ پڑھا گیا ہے۔

The Reserve Bank of India (RBI) has, by an order dated May 06, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Thoothukudi District Central Co-operative Bank Ltd., Thoothukudi, Tamil Nadu (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds - Guidelines for Classification, Reporting and Monitoring’. 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.

ریزرو بینک آف انڈیا (RBI) نے 09 اپریل 2024 کو RBI کی طرف سے جاری کردہ ہدایات کی عدم تعمیل کے لیے 'پروڈنشل نارمز کی مضبوطی - پروویژننگ، اثاثہ کی درجہ بندی اور نمائش کی حد' اور 'علاقائی دیہی بینک - آمدنی کی شناخت، اثاثوں کی درجہ بندی اور فراہمی کے معیارات - نان پرفارمنگ اثاثے (NPAs)' کے لیےایک حکم نامے کے ذریعے اوڈیشہ گرامیا بینک (بینک) پر ₹ 1,50,000/- (ایک لاکھ پچاس ہزار روپے صرف) کا مالیاتی جرمانہ عائد کیا ہے۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ، 1949 کے سیکشن 46(4)(i) اور 51(1) کے ساتھ پڑھے گئے سیکشن 47A(1)(c) کے دفعات کے تحت دیئے گئے RBI کو حاصل اختیارات کے استعمال میں لگایا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 26 اپریل 2024 کے ایک حکم کے ذریعے ادگیر اربن کوآپریٹو بینک لمیٹڈ، ادگیر (مہاراشٹر) (بینک) پر آر بی آئی کی جانب سے جاری کردہ ہدایات نمائش کے اصولوں اور قانونی / دیگر پابندیوں -یو سی بی کے بارے میں ہدایات - پر عمل نہ کرنے پر 1.00 لاکھ روپے (صرف ایک لاکھ روپے) کا جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 23 اپریل 2024 کے ایک حکم کے ذریعے لوک منگل کوآپریٹو بینک لمیٹڈ، سولاپور (بینک) پر آر بی آئی کی جانب سے جاری کردہ ہدایت 'اپنے کسٹمر کو جانیں (KYC) ہدایات، 2016' پر عمل نہ کرنے پر 5.00 لاکھ روپے (صرف پانچ لاکھ روپے) کا جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 10 اپریل، 2024 کے ایک حکم کے ذریعے اندرا مہیلا سہکاری بینک لمیٹڈ، مالیگاؤں، مہاراشٹر (بینک) پر 'برائے نام رکنیت سے متعلق پالیسی اور عمل' اور 'ایکسپوزر قواعد اور قانونی / دیگر پابندیوں - یو سی بیز سے متعلق آر بی آئی کی ہدایات کی کچھ دفعات پر عمل نہ کرنے پر 75,000/- روپے (صرف 75 ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے، جو دفعہ 47 A (1) (C) اور دفعہ 46 (4) (i) اور بینکنگ ریگولیشن ایکٹ، 1949 کی دفعہ 56کی دفعات کے تحت دیا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 16 اپریل، 2024 کے ایک حکم کے ذریعے چتردرگا ڈسٹرکٹ کوآپریٹو سینٹرل بینک لمیٹڈ، چتردرگا، کرناٹک (بینک) پر نیشنل بینک فار ایگریکلچراور رورل ڈیولپمنٹ (NABARD) کی جانب سے جاری کردہ ہدایات پر 'دھوکہ دہی - درجہ بندی، رپورٹنگ کے لئے رہنما اصول اور نگرانی پرعمل نہ کرنے پر 50,000/- روپے (صرف پچاس ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ . یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 12 اپریل، 2024 کے ایک حکم کے ذریعے سمرتھ سہکاری بینک لمیٹڈ، سولاپور، مہاراشٹر (بینک) پر آر بی آئی کی جانب سے جاری کردہ ہدایت' نمائش کے اصولوں اور قانونی / دیگر پابندیوں کے بارے میں ہدایات - یو سی بی 'پر عمل نہ کرنےپر50,000/-روپے (صرف پچاس ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل کردہ اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 04 اپریل، 2024 کے ایک حکم کے ذریعہ ڈاکٹر جے پرکاش منڈاڈا اربن کوآپریٹو بینک لمیٹڈ، ہنگولی، مہاراشٹر (بینک) پر 'ایڈوانسز-یو سی بیز کے انتظام' اور 'ایکسپوزر قواعد اور قانونی / دیگر پابندیوں - یو سی بی' سے متعلق آر بی آئی کی ہدایات کی تعمیل نہ کرنے پر 1.00 لاکھ روپے (صرف ایک لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے، جو بینکنگ ریگولیشن ایکٹ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 03 اپریل، 2024 کے ایک حکم کے ذریعے بشنوپور ٹاؤن کوآپریٹو بینک لمیٹڈ، مغربی بنگال (بینک) پر آر بی آئی کی جانب سے جاری کردہ ہدایات'اپنے کسٹمر کو جانیں (KYC)2016 پر عمل نہ کرنے پر 1.00 لاکھ روپے (صرف ایک لاکھ روپے) کا جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 31 مارچ، 2024 کے ایک حکم کے ذریعے نکودر ہندو اربن کوآپریٹو بینک لمیٹڈ، نکودر (بینک) پر پرائمری (اربن) کوآپریٹو کی جانب سے سرمایہ کاری بینک کے بارے میں آر بی آئی کی ہدایات پر عمل نہ کرنے پر 5.00 لاکھ روپے (صرف پانچ لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔.

The Reserve Bank of India (RBI) has, by an order dated April 01, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Panvel Co-operative Urban Bank Ltd., Raigad, Maharashtra (the bank) for non-compliance with directions issued under ‘Supervisory Action Framework’ (SAF) for Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

ریزرو بینک آف انڈیا (آر بی آئی) نے 1 اپریل 2024 کے ایک حکم کے ذریعے امبرناتھ جئے ہند کوآپریٹو بینک لمیٹڈ، امبرناتھ، مہاراشٹر (بینک) پر ڈپازٹ کھاتوں کی دیکھ بھال کے بارے میں آر بی آئی کی ہدایات کی کچھ دفعات (اربن) کوآپریٹو بینک پر عمل نہ کرنے پر3.00 لاکھ روپے (صرف تین لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 28 فروری، 2024 کے ایک حکم کے ذریعے ترومنگلم کوآپریٹو اربن بینک لمیٹڈ، ترومنگلم، تمل ناڈو (بینک) پر 'بورڈ آف ڈائریکٹرز - یو سی بیز' کو 'ڈائریکٹرز، ان کے رشتہ داروں اور فرموں/ خدشات کو قرض اور ایڈوانسزجن میں وہ دلچسپی رکھتے ہیں ان کے بارے میں آر بی آئی کی ہدایات پر عمل نہ کرنے پر 25،000 روپے (صرف 25 ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 28 فروری، 2024 کے ایک حکم کے ذریعے راجپالیم کوآپریٹو اربن بینک لمیٹڈ، راجاپالیم، تمل ناڈو (بینک) پر 'بورڈ آف ڈائریکٹرز - یو سی بیز' کو 'ڈائریکٹرز،ان کے رشتہ داروں اور فرموں / خدشات جن میں وہ دلچسپی رکھتے ہیں' اور 'ایکسپوزر اصول اور قانونی / دیگر پابندیاں - یو سی بی'کے بارے میں آر بی آئی کی ہدایات پر عمل نہ کرنے پر 75,000/-روپے (صرف 75 ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ ۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے، جو بینکنگ ریگولیشن ایکٹ، 1949 کی دفعہ 47 A (1) (C) اور دفعہ 46 (4) (i) اور دفعہ 56 کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 19 مارچ، 2024 کے ایک حکم کے ذریعے ہاوڑہ ڈسٹرکٹ سینٹرل کوآپریٹو بینک لمیٹڈ، ہاوڑہ (بینک) پر جوآر بی آئی کی جانب سے 'اپنے کسٹمر کو جانیں (KYC) ہدایات، 2016' پر عمل نہ کرنے پر1.00لاکھ روپے (صرف ایک لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 19 مارچ، 2024 کے ایک حکم کے ذریعے اسٹینڈرڈ اربن کوآپریٹو بینک لمیٹڈ، اورنگ آباد (بینک) پر بینکنگ ریگولیشن ایکٹ، 1949 (بی آر ایکٹ) کی دفعہ 56 A کی دفعات کی خلاف ورزی پر 50,000/- روپے (صرف پچاس ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو تفویض کردہ اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بی آر ایکٹ کی دفعہ 47 A (1) (C) اور دفعہ 46 (4) (i) اور 56 کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 28 فروری، 2024 کے ایک حکم کے ذریعے ڈنڈیگل اربن کوآپریٹو بینک لمیٹڈ، ڈنڈیگل، تمل ناڈو (بینک) پر'ایکسپوزر اصولوں اور قانونی / دیگر پابندیاں - یو سی بی' کے بارے میں آر بی آئی کی ہدایات کی کچھ دفعات پر عمل نہ کرنے پر 25,000/- روپے (صرف 25 ہزار روپے) کا مالی جرمانہ عائد کیا ہے ۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 28 فروری، 2024 کے ایک حکم کے ذریعے چکمگلورو ڈسٹرکٹ کوآپریٹو سینٹرل بینک لمیٹڈ، چکمگلورو، کرناٹک (بینک) پر نیشنل بینک فار ایگریکلچر اینڈ رورل ڈیولپمنٹ (NABARD) کی طرف سے جاری کردہ ہدایات 'دھوکہ دہی- درجہ بندی، رپورٹنگ اور رہنما اصول نگرانی' پر عمل نہ کرنے کے لئے 50,000/-روپے (صرف پچاس ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔. یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے ، جو بینکنگ ریگولیشن ایکٹ ، 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کی دفعات کے تحت دیا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 27 فروری، 2024 کے ایک حکم کے ذریعے جنتا کوآپریٹو بینک لمیٹڈ، مالیگاؤں، ناسک، مہاراشٹر (بینک) پر 'ایڈوانسز-یو سی بیز کے انتظام' اور 'ایکسپوزر قواعد اور قانونی / دیگر پابندیوں- یو سی بی' سے متعلق آر بی آئی کی ہدایات پر عمل نہ کرنے پر 5.00 لاکھ روپے (صرف پانچ لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے، جو بینکنگ ریگولیشن ایکٹ، 1949 کی دفعہ 47 A (1) (C) اور دفعہ 46 (4) (i) اور دفعہ 56 کے تحت دیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 22 فروری، 2024 کے ایک حکم کے ذریعے سولاپور ڈسٹرکٹ سینٹرل کوآپریٹو بینک لمیٹڈ، سولاپور، مہاراشٹر (بینک) پر بینکنگ ریگولیشن ایکٹ، 1949 (بی آر ایکٹ) کی دفعہ 56 اور ڈپازٹر ایجوکیشن اینڈ فنڈ بیداری پر آر بی آئی کی طرف سے جاری ہدایات کی دفعہ 26 A کی دفعات کی خلاف ورزی کرنے پر 5.00 لاکھ روپے (صرف پانچ لاکھ روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو بی آر ایکٹ کی دفعہ 47 A (1) (c) اور دفعہ 46 (4) (i) اور 56 کی دفعات کے تحت تفویض اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 14 فروری 2024 کے ایک حکم کے ذریعے ہنما ساگر اربن کوآپریٹو بینک لمیٹڈ، ہنما ساگر، کرناٹک (بینک) پر "یو سی بی میں دھوکہ دہی: نگرانی اور رپورٹنگ میکانزم میں تبدیلی" کے بارے میں آر بی آئی کی طرف سے جاری ہدایات کے ساتھ طریقہ کار کو "فراڈ کی درجہ بندی اور رپورٹنگ پر ماسٹر سرکلر"اور ایکس بی آر ایل-ایف ایم آر جمع کرانے پر دھوکہ دہی کی رپورٹنگ،ایف ایم آر -2 کی بندش اور ایف ایم آر-3 کا تعارف پر عمل نہ کرنے پر 50,000/-روپے (صرف پچاس ہزار روپے) کا مالی جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو بینکنگ ریگولیشن ایکٹ 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (c) کے تحت حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 13 فروری، 2024 کے ایک حکم کے ذریعے، جن سیوا کوآپریٹو بینک لمیٹڈ، ناسک، مہاراشٹر (بینک) پر آر بی آئی کی جانب سے جاری کردہ 'ڈائریکٹرز، رشتہ داروں اور فرموں/ خدشات کے لیے قرض اور ایڈوانسز' جس میں وہ دلچسپی رکھتے ہیں' کے ساتھ 'قرضے اور ڈائریکٹرز کو ایڈوانسز وغیرہ- ڈائریکٹرز کے طور پر ضمانت / ضمانت دینے والے - وضاحت' پر عمل نہ کرنے پر 50,000/- روپے (صرف پچاس ہزار روپے) کا مالی جرمانہ عائد کیا ہے. یہ جرمانہ آر بی آئی کو بینکنگ ریگولیشن ایکٹ 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (c) کے تحت حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے۔.

ریزرو بینک آف انڈیا (آر بی آئی) نے 13 فروری 2024 کے ایک حکم کے ذریعے آدی ناتھ کوآپریٹو بینک لمیٹڈ، ضلع سورت، گجرات (بینک) پرآر بی آئی کی جانب سے جاری کردہ ہدایات ڈپازٹس کی تعیناتی کے بارے میں پرائمری (اربن) کوآپریٹو بینکوں (یو سی بی) کے ذریعہ دیگر بینک پر عمل نہ کرنے پر ' 1.50 لاکھ روپے (ایک لاکھ پچاس ہزار روپے) مالیاتی جرمانہ عائد کیا ہے۔ ۔ یہ جرمانہ دفعہ 47A (c) (i) آر بی آئی کو بینکنگ ریگولیشن ایکٹ 1949 کی دفعہ 46 (4) (i) اور 56 کے تحت حاصل اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 8 فروری، 2024 کے ایک حکم کے ذریعہ پساد اربن کوآپریٹو بینک لمیٹڈ، پساد، مہاراشٹر (بینک) پر آر بی آئی کی جانب سے 'آمدنی کی شناخت، اثاثہ جات کی شناخت' درجہ بندی، فراہمی اور دیگر متعلقہ معاملات - یو سی بی' کے بارے میں جاری ہدایات پر عمل نہ کرنے پر ڈھائی لاکھ روپے (صرف دو لاکھ پچاس ہزار روپے) کا جرمانہ عائد کیا گیا۔ یہ جرمانہ بینکنگ ریگولیشن ایکٹ 1949 کی دفعہ 46 (4) (i) اور 56 کے ساتھ دفعہ 47 A (1) (C) کے تحت آر بی آئی کو دیئے گئے اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے۔

ریزرو بینک آف انڈیا (آر بی آئی) نے 08 فروری 2024 کے ایک حکم کے ذریعے بینکنگ ریگولیشن ایکٹ کی دفعہ 35 (A) (1) اور 36 (1) بالترتیب 1949 (بی آر ایکٹ) کے تحت آر بی آئی کی طرف سے جاری کردہ ہدایات اور مخصوص ہدایات کی خلاف ورزی کرنے پر انجن گاؤں سرجی نگری کوآپریٹو بینک لمیٹڈ، انجن گاؤں سورجی، مہاراشٹر (بینک) پر 0.50 لاکھ روپے (صرف پچاس ہزار روپے) کا جرمانہ عائد کیا ہے۔ یہ جرمانہ آر بی آئی کو دفعہ 47 A (1) (c) اور بی آر ایکٹ کی دفعہ 46 (4) (i) اور 56 کی دفعات کے تحت حاصل کردہ اختیارات کا استعمال کرتے ہوئے عائد کیا گیا ہے۔

The Reserve Bank of India (RBI) has, by an order dated January 19, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Navnirman Co-operative Bank Ltd., Ahmedabad, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are Interested’ read with ‘Loans and Advances to Directors etc. - Directors as surety/guarantors – Clarification’. 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 February 03, 2024, a monetary penalty of ₹6.00 lakh (Rupees Six lakh only) on The Nakodar Hindu Urban Cooperative Bank Ltd., Nakodar (the bank) for non-compliance with the directions issued by RBI on Income Recognition, Asset Classification, Provisioning and Other Related Matters (IRAC Norms) and 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 (RBl) has imposed, by an order dated January 18, 2024, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Shirpur Peoples Co-operative Bank Ltd., Dhule (Maharashtra) (the bank) for non-compliance with directions issued by RBI on Exposure Norms & Statutory Other Restrictions- UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of section 47A (1)(c) read with sections 46 (4)(i) and 56 of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

The Reserve Bank of India (RBl) has imposed, by an order dated January 18, 2024, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Nashik Zilha Sarkari & Parishad Karmachari Sahakari Bank Niyamit, Nashik (Maharashtra) (the bank) for non-compliance with 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 (RBl) has, by an order dated January 19, 2024, imposed a monetary penalty of ₹50,000 (Rupees Fifty thousand only) on Janata Sahakari Bank Limited, Amravati (the bank) for contravention of provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act).

The Reserve Bank of India (RBl) has, by an order dated January 08, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Mula Sahakari Bank Ltd., Sonai, Dist. Ahmednagar (Maharashtra) (the bank) for 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 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 (RBl) has, by an order dated January 08, 2024,imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Dr. Panjabrao Deshmukh Urban Co-operative Bank Limited, Amravati, Maharashtra (the bank) for contravention of specific directions issued by RBI under Supervisory Action Framework (SAF), and non-compliance with the RBI Directions on ‘Management of Advances-UCBs’ and ‘Know Your Customer (KYC) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBl) has, by an order dated January 08, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Krushiseva Urban Co-operative Bank Limited, Kole, Solapur, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, their relatives and firms/concerns in which they are interested’ read with RBI directions on ‘Board of Directors - UCBs’ and ‘Exposure Norms and Statutory/Other Restrictions – UCBs’  and for contravention of specific directions issued by RBI under the Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 26, 2023, imposed, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Patdi Nagarik Sahakari Bank Limited, Patdi, Dist. Surendranagar, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Donations to Trusts and Institutions where Directors, their relatives hold position or are interested’, ‘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’, ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

The Reserve Bank of India (RBI) has, by an order dated December 22, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Idar Nagarik Sahakari Bank Limited, Idar, Dist. Sabarkantha, Gujarat (the bank) for non-compliance with the 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 section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

The Reserve Bank of India (RBI) has, by an order dated December 29, 2023, imposed a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on Mehsana Nagrik Sahakari Bank Limited, Mehsana, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are Interested’ read with ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’, ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’ and contravention of the provisions of section 26A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act).

The Reserve Bank of India (RBI) has, by an order dated December 19, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Stambhadri Co-operative Urban Bank Ltd., Khammam, Telangana (the bank) for non-compliance with the directions issued by RBI on ‘Board of Directors - UCBs’ read with the directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’. This penalty has been imposed in exercise of powers 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, 2023, imposed a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Mehsana Jilla Panchayat Karmachari Co-operative Bank Ltd., Mehsana, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and contravention of provisions of Section 26A(2) 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 14, 2023 imposed a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on Navsarjan Industrial Co-operative Bank Ltd., Ankleshwar, dist. Bharuch, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’, ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and contravention of ‘Section 26A (2) 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 14, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Halol Urban Co-operative Bank Ltd., Panchmahal, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are Interested’ read with ‘Loans and Advances to Directors etc. - Directors as surety/guarantors – Clarification’, ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘(Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. 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 19, 2023, imposed a monetary penalty of ₹25,000/- (Rupees Twenty Five thousand only) on The Subramanianagar Co-operative Urban Bank Ltd., Salem, Tamil Nadu (the bank) for non-compliance with the directions issued by RBI on ‘Board of Directors - UCBs’ read with the directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’. This penalty has been imposed in exercise of powers 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 (AACS).

The Reserve Bank of India (RBI) has, by an order dated December 07, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty thousand only) on The Co-operative Urban Bank Limited, Parlakhemundi (the bank) for non-compliance with the directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’ and ‘Exposure Norms and Statutory/Other Restrictions - UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005 (CIC Act) and Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 (BR Act).

The Reserve Bank of India (RBI) has, by an order dated December 07, 2023, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Sankheda Nagarik Sahakari Bank Limited, Sankheda, Dist. Chhotaudepur, Gujarat (the bank) for non-compliance with directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are interested’ read with RBI directions on ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’ 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 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, 2023, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Shree Bharat Co-operative Bank Limited, Vadodara, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

 The Reserve Bank of India (RBI) has, by an order dated December 08, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifteen thousand only) on The Bhuj Commercial Co-operative Bank Limited, Dist. Kachchh, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Direction, 2016’ and ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Limdi Urban Co-operative Bank Limited, Limdi, dist. Dahod, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. This action is based on deficiency in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

The Reserve Bank of India (RBI) has, by an order dated November 30, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The United Co-operative Bank Limited, Ahmedabad, Gujarat (the bank) for non-compliance with the 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 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 30, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Sardargunj Mercantile Co-operative Bank Limited, Patan, Gujarat (the bank) for non-compliance with the 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 section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBl) has, by an order dated December 07, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Vidyanand Co-operative Bank Limited, Solapur, Maharashtra (the bank), for non-compliance with the directions issued by RBI on ‘Exposure Norms & Statutory/Other Restrictions - UCBs’ read with RBI directions on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Investments by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 06, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Panchsheel Mercantile Co-operative Bank Limited, Surat, Gujarat (the bank) for non-compliance with the 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 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 30, 2023, imposed a monetary penalty of ₹5,000/- Thousand (Rupees Five thousand only) on Sree Chaitanya Co-operative Bank Limited, Nabadwip, West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’.This penalty has been imposed in exercise of powers conferred on RBI under Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies  (Regulation) Act, 2005 (CIC Act).

The Reserve Bank of India (RBI) has, by an order dated November 30, 2023, imposed a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on Progressive Mercantile Co-operative Bank Limited, Ahmedabad, Gujarat (the bank) for non compliance with the 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 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 30, 2023, imposed a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Kutch Mercantile Co-operative Bank Limited, Rapar, Dist. Kachchh, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Policy and Practice regarding Nominal Membership’ read with RBI directions on ‘Exposure Norms and Statutory/Other Restrictions- UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 30, 2023, imposed a monetary penalty of ₹ 50,000/- (Rupees Fifty Thousand only) on Shree Morbi Nagarik Sahakari Bank Limited, Morbi, Gujarat (the bank) for non-compliance with the 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 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 30, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Bhabhar Vibhag Nagarik Sahakari Bank Limited, Bhabhar, District Banaskantha, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are interested’ read with RBI directions on ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’. This penalty has been imposed in exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 23, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Contai Co-operative Bank Ltd. (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

The Reserve Bank of India (RBI) has, by an order dated November 27, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Lakhvad Nagarik Sahakari Bank Ltd., Lakhvad, Dist. Mehsana, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are interested’ read with ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’, 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 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 15, 2023, imposed a monetary penalty of ₹10,000/- (Rupees Ten thousand only) on The District Co-operative Central Bank Ltd., Mahabubnagar, Telangana (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Review of Frauds – Guidelines on Monitoring and Reporting System’ read with ‘Frauds - Guidelines for Classification, Reporting and Monitoring of Frauds’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (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 20, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Konark Urban Cooperative Bank Ltd., Ulhasnagar (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts - Primary (Urban) 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

The Reserve Bank of India (RBI), by an order dated November 20, 2023, has imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Shri Laxmikrupa Urban Co-operative Bank Limited, Pune (the bank) for non-compliance with RBI directions on ‘Reserve Bank of India - Know Your Customer (KYC) Direction, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 20, 2023, imposed a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on Jijamata Mahila Sahakari Bank Limited, Pune (the bank) for non-compliance with RBI directions on ‘Reserve Bank of India - Know Your Customer (KYC) Direction, 2016’ and ‘Frauds in UCBs: Changes in Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 20, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Chembur Nagarik Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts - Primary (Urban) 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.

The Reserve Bank of India (RBI) has, by an order dated October 30, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on Patan Nagarik Sahakari Bank Ltd., Patan, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are Interested’ read with ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’ 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 47-A (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 03, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat (the bank) for non-compliance with the 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 47-A (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 03, 2023, imposed a monetary penalty of ₹1.50 Lakh (Rupees One lakh fifty thousand only) on The Mandal Nagarik Sahakari Bank Ltd., Mandal, Dist. Ahmedabad, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are interested’ read with ‘Loans and Advances to Directors etc. - Directors as surety/guarantors – Clarification’ and ‘Co-operative Banks - Interest Rate on Deposits’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (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 07, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Balasore Bhadrak Central Co-operative Bank Ltd., Balasore (the bank) for non-compliance with the directions issued by RBI on “Membership of Credit Information Companies (CICs)”. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 25 (1) (iii) read with section 23 (4) of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Khambhat Nagarik Sahakari Bank Ltd., Khambhat, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are Interested’ read with ‘Loans and Advances to Directors etc. - Directors as surety/guarantors – Clarification’. 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 October 25, 2023, a monetary penalty of ₹2.50 lakh (Rupees Two lakh fifty thousand only) on Shri Mahila Sewa Sahakari Bank Ltd., Ahmedabad, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. 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 October 25, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Porbandar Vibhagiya Nagarik Sahkari Bank Ltd., Porbandar, Gujarat (the bank) for non-compliance with the 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 imposed, by an order dated October 30, 2023, a monetary penalty of ₹25,000/- (Rupees Twenty-five thousand only) on The Vejalpur Nagarik Sahkari Bank Ltd., Vejalpur, dist. Panchmahal, Gujarat (the bank) for non-compliance with the 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 imposed, by an order dated October 13, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Sarvodaya Nagarik Sahakari Bank Ltd., Himmatnagar, Gujarat (the bank) for non-compliance with the 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 October 12, 2023, imposed a monetary penalty of ₹25,000/- (Rupees Twenty five thousand only) on The Pudukkottai Co-operative Town Bank Ltd., Pudukkottai, Tamil Nadu (the bank) for non-compliance with the directions issued by RBI on ‘Board of Directors - 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 (AACS).

The Reserve Bank of India (RBI) has, by an order dated November 02, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on Sappers Finance and Consultancy Pvt Ltd., Kolkata (the company) for non-compliance with the directions issued by RBI on (i) ‘Requirement for obtaining prior approval of RBI in cases of acquisition/transfer of control of Non-Banking Financial Companies (NBFCs)’; and (ii) ‘Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016’ read with directions issued by RBI on ‘Format of Statutory Auditors’ Certificate (SAC) to be submitted by NBFCs’. 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 lndia Act, 1934

The Reserve Bank of India (RBI), by an order dated September 15, 2023, has imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Sangli Sahakari Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Board of Directors-UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by RBI with reference to its financial position as on March 31, 2022, and examination of the Inspection report, Risk Assessment Report and all correspondence thereto revealed, inter alia, that the bank had renewed a loan given to a relative of one of its directors. Subsequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice, RBI came to the conclusion that the charge of non-compliance with the aforesaid directions issued by RBI was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)      
Chief General Manager

Press Release: 2023-2024/1321

The Reserve Bank of India (RBI) has, by an order dated October 12, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Jolarpet Co-operative Urban Bank Limited, Dist. Vellore, Tamil Nadu (the bank) for non-compliance with the directions issued by RBI on ‘Board of Directors - UCBs’ read with the directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’. This penalty has been imposed in exercise of powers 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.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by RBI with reference to its financial position as on March 31, 2022, and examination of the Inspection Report, Risk Assessment Report and all correspondence related thereto revealed, inter alia, that the bank had extended loans to directors and their relatives. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the aforesaid directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1246

The Reserve Bank of India (RBI) has, by an order dated October 06, 2023, imposed a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on Shree Lodra Nagarik Sahakari Bank Limited, Lodra, Dist. Gandhinagar, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are interested’ and ‘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 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by RBI with reference to its financial position as on March 31, 2022, and examination of the Inspection Report, Risk Assessment Report and all correspondence related thereto revealed, inter alia, that the bank had (i) sanctioned a loan to a relative of one of its directors; (ii) sanctioned loans wherein relatives of its directors stood as guarantors; (iii) breached the prudential inter-bank gross exposure limit; and (iv) breached the prudential inter-bank counterparty exposure limit. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1247

The Reserve Bank of India (RBI) has, by an order dated October 09, 2023, imposed a monetary penalty of ₹25,000/- (Rupees Twenty-Five thousand only) on The Limbasi Urban Co-operative Bank Ltd., Limbasi, Dist. Kheda, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are Interested’ read with the directions issued by RBI on ‘Loans and Advances to Directors etc. - Directors as surety/guarantors – Clarification’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by RBI with reference to its financial position as on March 31, 2022, and examination of the Inspection Report, Risk Assessment Report and all correspondence related thereto revealed, inter alia, that the bank had sanctioned a loan where relative of one of the directors of the bank stood as guarantor. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1248

The Reserve Bank of India (RBI) has, by an order dated October 10, 2023, imposed a monetary penalty of ₹3.50 lakh (Rupees Three lakh Fifty thousand only) on Malpur Nagarik Sahakari Bank Limited, Malpur, Dist. Aravalli, Gujarat (the bank) for non-compliance with the 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 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by RBI with reference to its financial position as on March 31, 2022, and examination of the Inspection Report, Risk Assessment Report and all correspondence related thereto revealed, inter alia, that the bank had (i) breached the prudential inter-bank gross exposure limit; and (ii) breached the prudential inter-bank counterparty exposure limit. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1249

The Reserve Bank of India (RBI) has, by an order dated September 15, 2023, imposed a monetary penalty of ₹3.20 lakh (Rupees Three lakh Twenty thousand only) on Early Salary Services Private Limited, Pune (the company) for non-compliance with certain provisions of the “Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (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.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers.

Background

The correspondence between RBI and the company in furtherance to a supervisory visit/scrutiny conducted in the month of October 2021, revealed, inter alia, that the company had failed to put in place a system of internal audit of all outsourced activities. Consequently, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the company’s reply to the notice, examination of additional submissions made by it and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the company.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1251

The Reserve Bank of India (RBI) has, by an order dated October 04, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Pij People’s Co-operative Bank Limited, Pij, Dist. Kheda, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by RBI with reference to its financial position as on March 31, 2022, and examination of the Inspection Report, Risk Assessment Report and all correspondence related thereto revealed, inter alia, that the bank had failed to carry out periodic review of risk categorisation of accounts. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1205

The Reserve Bank of India (RBI) has, by an order dated September 19, 2023, imposed a monetary penalty of ₹1.10 lakh (Rupees One lakh Ten thousand only) on Birbhum District Central Co-operative Bank Ltd., Birbhum, West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 and Section 25 (1) (iii) read with section 23 (4) of the Credit Information Companies (Regulation) Act, 2005.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2022, and examination of the Inspection Report and all correspondence related thereto revealed, inter alia, that the bank had (i) failed to carry out periodic review of risk categorisation of accounts, (ii) failed to undertake risk categorisation of a number of accounts; and (iii) failed to obtain membership of three out of the four CICs. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1201

The Reserve Bank of India (RBI) has, by an order dated October 04, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Shihori Nagarik Sahakari Bank Ltd., Shihori, Dist. Banaskantha, Gujarat (the bank) for non-compliance with directions issued by 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 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 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by RBI with reference to its financial position as on March 31, 2022, and examination of the Inspection Report, Risk Assessment Report and all correspondence related thereto, revealed, inter alia, that the bank had (i) sanctioned loans where relatives of directors of the bank stood as guarantors; and (ii) breached the prescribed inter-bank counterparty exposure limit. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1204