The Reserve Bank of India (RBl) has, by an order dated December 12, 2024, imposed a monetary penalty of ₹1.10 lakh (Rupees One Lakh Ten Thousand only) on Raj Rajeshwari Mahila Nagrik Sahakari Bank Maryadit, Shajapur (MP) (the bank), for non-compliance with certain direction issued by RBI on ‘Priority Sector Lending (PSL) - Targets and classification’, and specific directions issued by RBI on making contribution to the Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. 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 December 12, 2024, imposed a monetary penalty of ₹4.50 lakh (Rupees Four Lakh Fifty Thousand only) on Indore Paraspar Sahakari Bank Maryadit, Indore (MP) (the bank), for non-comp

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on Bharat Co-operative Bank (Mumbai) Limited (the bank), for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - 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 December 13, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Tarapur Co-operative Urban Bank Ltd., Dist. Anand, Gujarat (the bank) for non-compliance with the 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 Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Bhadran People’s Co-operative Bank Ltd., Dist. Anand, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Interest Rate on Deposits’ 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 December 12, 2024, imposed a monetary penalty of ₹5.96 lakh (Rupees Five lakh ninety six thousand only) on Vaishya Sahakari Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to the Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of PSL. 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 December 13, 2024, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on SBPP Co-operative Bank Limited, Killa Pardi (Dist. Valsad) (the bank), for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - 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 December 6, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Mandya City Co-operative Bank Ltd., Mandya, Karnataka (the bank) for non-compliance with certain 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 (RBI) has, by an order dated December 6, 2024, imposed a monetary penalty of ₹75,000/- (Rupees Seventy Five Thousand only) on The Udumalpet Co-operative Urban 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 ‘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 (RBI) has, by an order dated December 6, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Pondicherry Co-operative Urban Bank Ltd., Puducherry (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’ and certain 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.