The Reserve Bank of India (RBI) has, by an order dated May 06, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Vishwakalyan Sahakara Bank Niyamit, Hubli, Karnataka (the bank) for contravention of provisions of Section 31 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 May 06, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The Nicholson Co-operative Town Bank Ltd., Tamil Nadu (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’ 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 May 06, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Sree Harihareshwara Urban Co-operative Bank Limited, Harihar, Karnataka (the bank) for contravention of provisions of Section 31 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 May 05, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Shree Warana Sahakari Bank Limited, Warananagar, 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 May 06, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Jammu Central Co-operative Bank Ltd., Jammu and Kashmir (the bank) for non-compliance with specific directions issued by RBI under Section 35A 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 April 25, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Deccan Merchants Co-operative Bank Ltd., Mumbai (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’. 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 April 25, 2025, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Hindusthan Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with certain 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 (RBl) has, by an order dated May 02, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Siddheshwar Urban Co-operative Bank Maryadit, Sillod, Aurangabad, Maharashtra (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)’. 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 (RBl) has, by an order dated May 02, 2025, imposed a monetary penalty of ₹7.50 lakh (Rupees Seven Lakh Fifty Thousand only) on The Pusad Urban Cooperative Bank Limited, Pusad, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’, ‘Co-operative Banks- Interest Rates on Deposits’, 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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated April 29, 2025, imposed a monetary penalty of ₹29.60 lakh (Rupees Twenty nine lakh sixty thousand only) on Axis Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Un-authorized Operation of lnternal / Office Accounts’. 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) of the Banking Regulation Act, 1949.