The Reserve Bank of India (RBI) has, by an order dated March 03, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Vanchinad Finance Pvt. Ltd., Ernakulam, Kerala (the company) for non-compliance with certain provisions of ‘Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 ’ read with ‘Master Direction - Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023’ issued by RBI. 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.

The Reserve Bank of India (RBI) has, by an order dated March 03, 2025, imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh only) on Sri Basaveshwar Sahakar Bank Niyamitha, Gulbarga, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’, ‘Donations / Contributions for Public / Charitable purposes out of profits of 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 March 03, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The A.P. Raja Rajeswari Mahila Co-operative Urban Bank Ltd., Hyderabad (the bank) for non-compliance with certain directions issued by RBI on ‘Management of Advances – 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 February 27, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees  One Lakh only) on The Magadh Central Co-operative Bank Limited, Bihar (the  bank) for non-compliance with certain directions issued by RBI

The Reserve Bank of India (RBI) has, by an order dated February 24, 2025, imposed a monetary penalty of ₹33.10 lakh (Rupees Thirty Three Lakh Ten Thousand only) on IIFL Samasta Finance Limited (the company) for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 ' and 'Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016 '

The Reserve Bank of India (RBI) has, by an order dated February 24, 2025, imposed a monetary penalty of ₹66.60 lakh (Rupees Sixty Six Lakh Sixty Thousand only) on The Hongkong and Shanghai Banking Corporation Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer ’, ‘Reporting of Information on Unhedged Foreign Currency Exposures of the Borrowers to Credit Information Companies’ and ‘Interest Rates on Deposits’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section

The Reserve Bank of India (RBI) has, by an order dated February 24, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Business Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for contravention of the 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 February 17, 2025, imposed a monetary penalty of ₹33.30 lakh (Rupees Thirty Three Lakh Thirty Thousand only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank), for contravention of the provisions of Section 6(2) read with Section 56 of The Banking Regulation Act, 1949

The Reserve Bank of India (RBI) has, by an order dated February 24, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Lasalgaon Merchants Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Cla

The Reserve Bank of India (RBI) has, by an order dated February 18, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Gulbarga and Yadgir District Co-operative Central Bank Ltd., Karnataka (the bank) for non-compliance with certain directions issued by the National Bank for Agriculture and Rural Development (NABARD) in exercise of powers conferred under Section 27(3) read with Section 56 of the Banking Regulation Act, 1949 (BR Act) on ‘Offsite Surveillance System-Revision of Due dates for Submission of OSS/FMS Returns’. 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.