The Reserve Bank of India (RBI) has, by an order dated August 03, 2023 imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Mangal Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’. 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, 1

The Reserve Bank of India (RBI) has, by an order dated August 03, 2023 imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Islampur Urban Co-operative Bank Limited, Islampur, (Maharashtra) (the bank) for non-compliance with provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and ‘Maintenance of Deposit Accounts-UC

The Reserve Bank of India (RBI) has imposed, by an order dated August 02, 2023, a monetary penalty of ₹1,00,000/- (Rupees One lakh only) on The Tapindu Urban Co-operative Bank Limited, Patna (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 vested in RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Bank

The Reserve Bank of India (RBI) has, by an order dated August 02, 2023 imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Mahabaleshwar Urban Co-operative Bank Limited., Mahabaleshwar, Maharashtra (the bank) for contravention of provisions of Section 20A read with Section 56 of the Banking Regulation Act, 1949 (BR Act), specific directions issued by RBI under Supervisory Action Framework (SAF), and directions issued by RBI on ‘Maintenance of Deposi

The Reserve Bank of India (RBI) has imposed, by an order dated August 02, 2023, a monetary penalty of ₹20,000/- (Rupees Twenty thousand only) on Mizoram Urban Cooperative Development Bank Limited, Aizawl (the bank) for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF) and certain provision of ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’. This penalty has been imposed in exercise of powers vested in RB

The Reserve Bank of India (RBI) has, by an order dated July 03, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh and Fifty Thousand only) on Vita Urban Co-operative Bank Ltd., Vita, Maharashtra (the bank) for contravention of provisions of Section 26-A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and directions issued by RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI under

The Reserve Bank of India (RBI) has, by an order dated July 03, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Shreeji Bhatia Cooperative Bank Ltd., Mumbai (the bank) for non-compliance with specific directions issued by RBI under the Supervisory Action Framework (SAF) and ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1

The Reserve Bank of India (RBI) has, by an order dated August 02, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees one lakh fifty thousand only) on Shri Vinayak Sahakari Bank Ltd, Ahmedabad (Gujarat) (the bank) for contravention of direction 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 vested in the RBI under the provisions of Section 47 A (1) (c) read