Press Releases - Enforcement - RBI - Reserve Bank of India
Press Releases
Feb 20, 2023
RBI imposes monetary penalty on Youth Development Co-operative Bank Limited, Kolhapur
The Reserve Bank of India (RBI) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Youth Development Co-operative Bank Limited, Kolhapur for non-adherence / violation of All Inclusive Directions imposed on the bank by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949,
The Reserve Bank of India (RBI) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Youth Development Co-operative Bank Limited, Kolhapur for non-adherence / violation of All Inclusive Directions imposed on the bank by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949,
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Feb 20, 2023
RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Bhind (Madhya Pradesh)
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Bhind (Madhya Pradesh) (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by NABARD on submission of returns by banks. This penalty has been imposed in exercise of powers vested in RBI under the provisio
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Bhind (Madhya Pradesh) (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by NABARD on submission of returns by banks. This penalty has been imposed in exercise of powers vested in RBI under the provisio
Feb 20, 2023
RBI imposes monetary penalty on The Jalgaon District Central Co-operative Bank Ltd., Jalgaon (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.50 lakh (Rupees One Lakh and Fifty Thousand only) on The Jalgaon District Central Co-operative Bank Ltd., Jalgaon (Maharashtra) (the bank) for contravention of/ non-compliance with the directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with S
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.50 lakh (Rupees One Lakh and Fifty Thousand only) on The Jalgaon District Central Co-operative Bank Ltd., Jalgaon (Maharashtra) (the bank) for contravention of/ non-compliance with the directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with S
Feb 20, 2023
RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh (Madhya Pradesh)
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh (Madhya Pradesh) (the bank) for contravention of/ non-compliance with the directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Se
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh (Madhya Pradesh) (the bank) for contravention of/ non-compliance with the directions issued by the RBI on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Se
Feb 20, 2023
RBI imposes monetary penalty on Shree Samarth Sahakari Bank Ltd., Nashik (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Shree Samarth Sahakari Bank Ltd., Nashik (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisi
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Shree Samarth Sahakari Bank Ltd., Nashik (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Board of Directors-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisi
Feb 20, 2023
RBI imposes monetary penalty on Osmanabad Janata Sahakari Bank Ltd., Osmanabad (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on Osmanabad Janata Sahakari Bank Ltd., Osmanabad (Maharashtra) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme). This penalty has been imposed in exercise of powers vested in RBI un
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on Osmanabad Janata Sahakari Bank Ltd., Osmanabad (Maharashtra) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and the Depositor Education and Awareness Fund Scheme, 2014 (the Scheme). This penalty has been imposed in exercise of powers vested in RBI un
Feb 20, 2023
RBI imposes monetary penalty on The Vaijapur Merchants Co-operative Bank Ltd., Vaijapur (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Vaijapur Merchants Co-operative Bank Ltd., Vaijapur (Maharashtra) (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Co-operative Banks on lncome Recognition and Asset Classification (IRAC) norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of
The Reserve Bank of India (RBl) has imposed, by an order dated February 14, 2023, a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Vaijapur Merchants Co-operative Bank Ltd., Vaijapur (Maharashtra) (the bank) for contravention of/ non-adherence with the directions issued by RBI to Urban Co-operative Banks on lncome Recognition and Asset Classification (IRAC) norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of
Feb 13, 2023
RBI imposes monetary penalty on The Vaidyanath Urban Co-operative Bank Limited, Parli Vaijnath, Beed (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated February 07, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on The Vaidyanath Urban Co-operative Bank Ltd., Beed (Maharashtra) (the bank) for non-adherence/violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF) under section 36 (1) read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed
The Reserve Bank of India (RBl) has imposed, by an order dated February 07, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on The Vaidyanath Urban Co-operative Bank Ltd., Beed (Maharashtra) (the bank) for non-adherence/violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF) under section 36 (1) read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed
Feb 06, 2023
RBI imposes monetary penalty on The Utkal Cooperative Bank Ltd., Bhubaneswar, Odisha
The Reserve Bank of India (RBI) has imposed, by an order dated January 31, 2023, a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Utkal Cooperative Bank Ltd. (the bank) for contravention of/ non-compliance with the directions issued by Reserve Bank of India (RBI) on (i) Exposure Norms and Statutory/Other Restrictions-UCBs and (ii) specific directions issued under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers
The Reserve Bank of India (RBI) has imposed, by an order dated January 31, 2023, a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Utkal Cooperative Bank Ltd. (the bank) for contravention of/ non-compliance with the directions issued by Reserve Bank of India (RBI) on (i) Exposure Norms and Statutory/Other Restrictions-UCBs and (ii) specific directions issued under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers
Feb 03, 2023
RBI imposes monetary penalty on Krazybee Services Private Limited, Bangalore
The Reserve Bank of India (RBI) has, by an order dated February 1, 2023, imposed a monetary penalty of ₹42.48 lakh (Rupees Forty two lakh forty eight thousand only) on Krazybee Services Private Limited, Bangalore (the company) for non-compliance with certain provisions of the directions issued by RBI on “Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs” and “Fair Practices Code for applicable NBFCs”, contained in the “Non-Banking Financ
The Reserve Bank of India (RBI) has, by an order dated February 1, 2023, imposed a monetary penalty of ₹42.48 lakh (Rupees Forty two lakh forty eight thousand only) on Krazybee Services Private Limited, Bangalore (the company) for non-compliance with certain provisions of the directions issued by RBI on “Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs” and “Fair Practices Code for applicable NBFCs”, contained in the “Non-Banking Financ
Feb 03, 2023
RBI imposes monetary penalty on North East Small Finance Bank Limited
The Reserve Bank of India (RBI) has, by an order dated January 30, 2023, imposed a monetary penalty of ₹39.50 lakh (Rupees Thirty-nine Lakh Fifty Thousand only) on North East Small Finance Bank Limited (the bank) for non-compliance with the directions issued by RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts’ and ‘Prudential Guidelines on Capital Adequacy and Market Discipline-Ne
The Reserve Bank of India (RBI) has, by an order dated January 30, 2023, imposed a monetary penalty of ₹39.50 lakh (Rupees Thirty-nine Lakh Fifty Thousand only) on North East Small Finance Bank Limited (the bank) for non-compliance with the directions issued by RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts’ and ‘Prudential Guidelines on Capital Adequacy and Market Discipline-Ne
Feb 03, 2023
RBI imposes monetary penalty on Bank of Baroda
The Reserve Bank of India (RBI) has, by an order dated January 30, 2023 imposed a monetary penalty of ₹30.00 lakh (Rupees Thirty lakh only) on Bank of Baroda (the bank) for non-compliance with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’ and Reserve Bank of India (Interest Rate on Deposits) Directions, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) r
The Reserve Bank of India (RBI) has, by an order dated January 30, 2023 imposed a monetary penalty of ₹30.00 lakh (Rupees Thirty lakh only) on Bank of Baroda (the bank) for non-compliance with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’ and Reserve Bank of India (Interest Rate on Deposits) Directions, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) r
Jan 30, 2023
RBI imposes monetary penalty on Ilkal Co-operative Bank Ltd., Ilkal, Karnataka
The Reserve Bank of India (RBI) has imposed, by an order dated January 23, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Ilkal Co-operative Bank Ltd., Ilkal, Karnataka (the bank) for non-adherence / violation of directions issued on Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46
The Reserve Bank of India (RBI) has imposed, by an order dated January 23, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Ilkal Co-operative Bank Ltd., Ilkal, Karnataka (the bank) for non-adherence / violation of directions issued on Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46
Jan 23, 2023
RBI imposes monetary penalty on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad
The Reserve Bank of India (RBI) has, by an order dated January 17, 2023, imposed a monetary penalty of ₹26.00 lakh (Rupees Twenty-six lakh only) on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad (the bank) for non-compliance with the directions issued by RBI on ‘Co-operative Bank-Interest rate on deposits’ and ‘Guidelines for issue of ATM-cum-Debit cards by UCBs’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47A(1)(c) read wit
The Reserve Bank of India (RBI) has, by an order dated January 17, 2023, imposed a monetary penalty of ₹26.00 lakh (Rupees Twenty-six lakh only) on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad (the bank) for non-compliance with the directions issued by RBI on ‘Co-operative Bank-Interest rate on deposits’ and ‘Guidelines for issue of ATM-cum-Debit cards by UCBs’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47A(1)(c) read wit
Jan 23, 2023
RBI imposes monetary penalty on Samarth Sahakari Bank Ltd., Solapur (Maharashtra)
The Reserve Bank of India (RBl) has imposed, by an order dated January 16, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh and Fifty Thousand only) on Samarth Sahakari Bank Ltd., Solapur (Maharashtra) (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Income Recognition and Asset Classification (IRAC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
The Reserve Bank of India (RBl) has imposed, by an order dated January 16, 2023, a monetary penalty of ₹1.50 lakh (Rupees One lakh and Fifty Thousand only) on Samarth Sahakari Bank Ltd., Solapur (Maharashtra) (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Income Recognition and Asset Classification (IRAC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
Jan 16, 2023
RBI imposes monetary penalty on The Citizens’ Co-operative Bank Limited, Jammu, Jammu and Kashmir
The Reserve Bank of India (RBI) has, by an order dated January 06, 2023, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Citizens’ Co-operative Bank Limited, Jammu, Jammu and Kashmir (the bank) for contravention of section 35 A and section 36 (1) (a) read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i)
The Reserve Bank of India (RBI) has, by an order dated January 06, 2023, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Citizens’ Co-operative Bank Limited, Jammu, Jammu and Kashmir (the bank) for contravention of section 35 A and section 36 (1) (a) read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i)
Jan 16, 2023
RBI imposes monetary penalty on the District Co-operative Bank Limited, Dehradun, Uttarakhand
The Reserve Bank of India (RBI) has, by an order dated January 06, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on the District Co-operative Bank Limited, Dehradun, Uttarakhand (the bank) for contravention of provisions of section 20 read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) and section 56
The Reserve Bank of India (RBI) has, by an order dated January 06, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on the District Co-operative Bank Limited, Dehradun, Uttarakhand (the bank) for contravention of provisions of section 20 read with section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) and section 56
Jan 13, 2023
RBI imposes monetary penalty on Bahadur Chand Investments Private Limited, New Delhi
The Reserve Bank of India (RBI) has, by an order dated January 06, 2023, imposed a monetary penalty of ₹30.00 lakh (Rupees Thirty lakh only) on Bahadur Chand Investments Private Limited, New Delhi (the company) for non-compliance with certain provisions of the “Core Investment Companies (Reserve Bank) Directions, 2016” and directions on “Information Technology Framework for the NBFC Sector”. This penalty has been imposed in exercise of powers vested in RBI under the p
The Reserve Bank of India (RBI) has, by an order dated January 06, 2023, imposed a monetary penalty of ₹30.00 lakh (Rupees Thirty lakh only) on Bahadur Chand Investments Private Limited, New Delhi (the company) for non-compliance with certain provisions of the “Core Investment Companies (Reserve Bank) Directions, 2016” and directions on “Information Technology Framework for the NBFC Sector”. This penalty has been imposed in exercise of powers vested in RBI under the p
Jan 09, 2023
Reserve Bank of India imposes monetary penalty on The Attur Town Co-operative Bank Ltd., Attur, Salem District, Tamil Nadu
The Reserve Bank of India (RBI) has imposed, by an order dated January 02, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Attur Town Co-operative Bank Ltd., Attur, Salem District, Tamil Nadu (the bank) for non-adherence/violation of directions issued in the matter of Board of Directors – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56
The Reserve Bank of India (RBI) has imposed, by an order dated January 02, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Attur Town Co-operative Bank Ltd., Attur, Salem District, Tamil Nadu (the bank) for non-adherence/violation of directions issued in the matter of Board of Directors – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56
Jan 09, 2023
Reserve Bank of India imposes monetary penalty on Shree Mahayogi Lakshmamma Co-operative Bank Ltd., Kurnool, Andhra Pradesh
The Reserve Bank of India (RBI) has imposed, by an order dated January 02, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Shree Mahayogi Lakshmamma Cooperative Bank Ltd., Kurnool, Andhra Pradesh (the bank) for non-compliance with 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 under the provisions of Section 47 A (1)
The Reserve Bank of India (RBI) has imposed, by an order dated January 02, 2023, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Shree Mahayogi Lakshmamma Cooperative Bank Ltd., Kurnool, Andhra Pradesh (the bank) for non-compliance with 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 under the provisions of Section 47 A (1)
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