Press Releases - Enforcement - RBI - Reserve Bank of India
Press Releases
The Reserve Bank of India (RBl) has imposed, by an order dated January 25, 2024, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Nagrik Sahakari Bank Maryadit, Shivpuri (Madhya Pradesh) (the bank) for non-compliance with directions issued by RBI on Exposure Norms & Statutory/Other Restrictions on UCBs and Know Your Customer (KYC). 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.
The Reserve Bank of India (RBl) has imposed, by an order dated January 25, 2024, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Nagrik Sahakari Bank Maryadit, Shivpuri (Madhya Pradesh) (the bank) for non-compliance with directions issued by RBI on Exposure Norms & Statutory/Other Restrictions on UCBs and Know Your Customer (KYC). 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.
PDF (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 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 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 ₹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 ₹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 (RBI) has, by an order dated January 08, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Bhilai Nagrik Sahakari Bank Maryadit, Bhilai, Chhattisgarh (the bank) for non-compliance with the directions issued by RBI on ‘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 sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. This action is based on the 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 January 08, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Bhilai Nagrik Sahakari Bank Maryadit, Bhilai, Chhattisgarh (the bank) for non-compliance with the directions issued by RBI on ‘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 sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. This action is based on the 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 (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 (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 (RBl) has, by an order dated January 08, 2024,imposed a monetary penalty of ₹75,000/- (Rupees Seventy five thousand only) on Jila Sahakari Kendriya Bank Maryadit, Shahdol, Madhya Pradesh (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) read with the ‘Depositor Education and Awareness Fund Scheme, 2014’ (the Scheme). 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 January 08, 2024,imposed a monetary penalty of ₹75,000/- (Rupees Seventy five thousand only) on Jila Sahakari Kendriya Bank Maryadit, Shahdol, Madhya Pradesh (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) read with the ‘Depositor Education and Awareness Fund Scheme, 2014’ (the Scheme). 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 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.
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.
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.
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.
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 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).
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Page Last Updated on: July 22, 2024
