The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on GoCapital Finance Limited, Chennai, Tamil Nadu (the company) for non-compliance with certain provisions of ‘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 vested in RBI, conferred under the provisions of clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Catholic Co-operative Urban Bank Limited, Telangana (the bank) for non-compliance with certain directions issued by RBI on ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’, ‘Management of advances-UCBs’ 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 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 (RBl) has, by an order dated October 03, 2024, imposed a monetary penalty of ₹14.00 lakh (Rupees Fourteen Lakh only) on Arunachal Pradesh Rural Bank (the bank), for non-compliance with certain directions issued by RBI on ‘Strengthening of Prudential Norms- Provisioning Asset Classification and Exposure Limit’ and 'Know Your Customer (KYC) '. 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 51(1) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBl) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Urban Co-operative Bank Limited, Dharangaon, Maharashtra (the bank), for non-compliance with the specific directions issued by RBI under Supervisory Action Framework (SAF). 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 October 03, 2024, imposed a monetary penalty of ₹2.75 lakh (Rupees Two Lakh Seventy Five Thousand only) on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh (the bank) for contravention of the 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 ‘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 BR Act and section 25 of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has, by an order dated October 04, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Sri Kalahasti Co-operative Town Bank Limited, Andhra Pradesh (the bank) for non-compliance with provisions of Section 31 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.

The Reserve Bank of India (RBI) has, by an order dated October 1, 2024, imposed a monetary penalty of ₹28.30 lakh (Rupee Twenty Eight Lakh Thirty Thousand only) on SG Finserve limited (formerly known as M/s Moongipa Securities Limited) (the company) for non-compliance with specific conditions under which the company was issued the Certificate of Registration (CoR) by RBI under section 45IA(5) of Reserve Bank of India Act, 1934 (RBI Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (a) of sub-section (1) of Section 58G read with sub-section (6) of Section 58 B of the RBI Act

The Reserve Bank of India (RBI) has, by an order dated September 26, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jaihind Urban Co-operative Bank Limited, Pune (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 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 September 26, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Mansing Co-operative Bank Limited, Dudhondi (the bank) for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters- 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 October 01, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Sonbhadra Nagar Sahkari Bank Limited, Sonbhadra (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 section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.