Press Releases - Enforcement - RBI - Reserve Bank of India
Press Releases
Nov 14, 2022
RBI imposes monetary penalty on Renuka Nagarik Sahakari Bank Maryadit, Ambikapur (Chhattisgarh)
The Reserve Bank of India (RBl) has imposed, by an order dated November 09, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Renuka Nagarik Sahakari Bank Maryadit, Ambikapur (Chhattisgarh) (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 and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI und
The Reserve Bank of India (RBl) has imposed, by an order dated November 09, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Renuka Nagarik Sahakari Bank Maryadit, Ambikapur (Chhattisgarh) (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 and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI und
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Nov 07, 2022
RBI imposes monetary penalty on Pragati Mahila Nagarik Sahakari Bank Maryadit, Bhilai (Chhattisgarh)
The Reserve Bank of India (RBl) has imposed, by an order dated November 04, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Pragati Mahila Nagarik Sahakari Bank Maryadit, Bhilai (Chhattisgarh) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on “Exposure Norms and Statutory / Other Restrictions – UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provision
The Reserve Bank of India (RBl) has imposed, by an order dated November 04, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Pragati Mahila Nagarik Sahakari Bank Maryadit, Bhilai (Chhattisgarh) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on “Exposure Norms and Statutory / Other Restrictions – UCBs”. This penalty has been imposed in exercise of powers vested in RBI under the provision
Oct 31, 2022
RBI imposes monetary penalty on The City Co-operative Bank Ltd., Mysore, Karnataka
The Reserve Bank of India (RBI) has imposed, by an order dated October 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The City Co-operative Bank Ltd., Mysore, Karnataka (the bank) for non-adherence / violation of directions issued under Management of Advances-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 of the Banking Regulation Act
The Reserve Bank of India (RBI) has imposed, by an order dated October 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The City Co-operative Bank Ltd., Mysore, Karnataka (the bank) for non-adherence / violation of directions issued under Management of Advances-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 of the Banking Regulation Act
Oct 31, 2022
RBI imposes monetary penalty on The Mysore Merchants Co-operative Bank Ltd., Mysore, Karnataka
The Reserve Bank of India (RBI) has imposed, by an order dated October 20, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Mysore Merchants Co-operative Bank Ltd., Mysore, Karnataka (the bank) for non-adherence / violation of directions issued under Management of Advances-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 of the Banking R
The Reserve Bank of India (RBI) has imposed, by an order dated October 20, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Mysore Merchants Co-operative Bank Ltd., Mysore, Karnataka (the bank) for non-adherence / violation of directions issued under Management of Advances-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 of the Banking R
Oct 31, 2022
RBI imposes monetary penalty on LIC Housing Finance Limited, Mumbai
The Reserve Bank of India (RBI) has, by an order dated October 21, 2022, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on LIC Housing Finance Limited, Mumbai (the company) for non-compliance with certain provisions of “The Housing Finance Companies (NHB) Directions, 2010” issued by the National Housing Bank (NHB) on July 02, 2018 read with the press release dated August 13, 2019 issued by the Reserve Bank of India (the Bank) on “Transfer of Regulati
The Reserve Bank of India (RBI) has, by an order dated October 21, 2022, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on LIC Housing Finance Limited, Mumbai (the company) for non-compliance with certain provisions of “The Housing Finance Companies (NHB) Directions, 2010” issued by the National Housing Bank (NHB) on July 02, 2018 read with the press release dated August 13, 2019 issued by the Reserve Bank of India (the Bank) on “Transfer of Regulati
Oct 31, 2022
RBI imposes Monetary Penalty on Vakrangee Limited
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,76,00,000 (Rupees One Crore and Seventy Six Lakh only) on Vakrangee Limited (the entity) for non-compliance with certain provisions of the White Label ATM (WLA) directions. The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007 (PSS Act). This action is based on deficiencies in regulatory compliance and is not intended to pron
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,76,00,000 (Rupees One Crore and Seventy Six Lakh only) on Vakrangee Limited (the entity) for non-compliance with certain provisions of the White Label ATM (WLA) directions. The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007 (PSS Act). This action is based on deficiencies in regulatory compliance and is not intended to pron
Oct 31, 2022
RBI imposes monetary penalty on The Pratap Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (RBI) has, by an order dated October 17, 2022, imposed a monetary penalty of ₹6 lakh (Rupees Six lakh only) on The Pratap Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. 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) of the Banking Regulat
The Reserve Bank of India (RBI) has, by an order dated October 17, 2022, imposed a monetary penalty of ₹6 lakh (Rupees Six lakh only) on The Pratap Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. 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) of the Banking Regulat
Oct 31, 2022
RBI imposes monetary penalty on Nagar Sahakari Bank Ltd., Maharajganj, UP
The Reserve Bank of India (RBI) has imposed, by an order dated October 27, 2022, a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Nagar Sahakari Bank Ltd., Maharajganj, UP (the bank) for non-compliance with directions issued under Supervisory Action Framework (SAF) 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, 1
The Reserve Bank of India (RBI) has imposed, by an order dated October 27, 2022, a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Nagar Sahakari Bank Ltd., Maharajganj, UP (the bank) for non-compliance with directions issued under Supervisory Action Framework (SAF) 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, 1
Oct 31, 2022
RBI imposes monetary penalty on The Jammu and Kashmir State Co-operative Bank Limited, Srinagar, Jammu and Kashmir
The Reserve Bank of India (RBI) has imposed, by an order dated October 28, 2022, a monetary penalty of ₹30.00 lakh (Rupees Thirty Lakh only) on The Jammu and Kashmir State Co-operative Bank Limited, Srinagar, Jammu and Kashmir (the bank) for non-compliance with RBI directions on ‘Income Recognition, Assets Classification, Provisioning and Other Related Matters’. 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 October 28, 2022, a monetary penalty of ₹30.00 lakh (Rupees Thirty Lakh only) on The Jammu and Kashmir State Co-operative Bank Limited, Srinagar, Jammu and Kashmir (the bank) for non-compliance with RBI directions on ‘Income Recognition, Assets Classification, Provisioning and Other Related Matters’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1)
Oct 31, 2022
Reserve Bank of India imposes monetary penalty on Banda Urban Co-operative Bank Ltd., Banda, U.P
The Reserve Bank of India (RBI) has imposed, by an order dated October 27, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on the Banda Urban Co-operative Bank Ltd., Banda, U.P (the bank) for contravention of 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 Section 46(4)(i) and Section 56 of the
The Reserve Bank of India (RBI) has imposed, by an order dated October 27, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on the Banda Urban Co-operative Bank Ltd., Banda, U.P (the bank) for contravention of 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 Section 46(4)(i) and Section 56 of the
Oct 17, 2022
RBI imposes monetary penalty on The Rajgurunagar Sahakari Bank Limited, Pune
The Reserve Bank of India (RBI) has imposed, by an order dated October 14, 2022, a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Rajgurunagar Sahakari Bank Limited, Pune (the bank) for contravention of the directions issued by the Reserve Bank of India (RBI) on Interest Rate on Deposits. 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 Banki
The Reserve Bank of India (RBI) has imposed, by an order dated October 14, 2022, a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Rajgurunagar Sahakari Bank Limited, Pune (the bank) for contravention of the directions issued by the Reserve Bank of India (RBI) on Interest Rate on Deposits. 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 Banki
Oct 17, 2022
RBI imposes monetary penalty on The Meghraj Nagarik Sahakari Bank Ltd., Aravalli (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2022, a monetary penalty of ₹25,000/- (Rupees Twenty Five Thousand only) on The Meghraj Nagarik Sahakari Bank Ltd., Aravalli (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2022, a monetary penalty of ₹25,000/- (Rupees Twenty Five Thousand only) on The Meghraj Nagarik Sahakari Bank Ltd., Aravalli (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read
Oct 17, 2022
RBI imposes monetary penalty on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat) (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with Circular on 'The Depositor Education and Awareness Fund Sche
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat) (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with Circular on 'The Depositor Education and Awareness Fund Sche
Oct 17, 2022
RBI imposes monetary penalty on The Gandhidham Mercantile Co-operative Bank Ltd., Gandhidham, Dist. Kutch (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2022, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Gandhidham Mercantile Co-operative Bank Ltd., Gandhidham, Dist. Kutch (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ and ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’
The Reserve Bank of India (RBI) has imposed, by an order dated October 13, 2022, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Gandhidham Mercantile Co-operative Bank Ltd., Gandhidham, Dist. Kutch (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ and ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification’
Oct 10, 2022
RBI imposes monetary penalty on The Kerala State Co-operative Bank Ltd., Thiruvananthapuram
The Reserve Bank of India (RBI) has, by an order dated October 03, 2022, imposed a monetary penalty of ₹48.00 lakh (Rupees Forty-Eight Lakh only) on The Kerala State Co-operative Bank Ltd., Thiruvananthapuram (the bank) for non-compliance with the provisions of section 19 read with section 56 of Banking Regulation Act, 1949 (the Act) and directions issued by RBI on ‘Gold Loan - Bullet Repayment’. This penalty has been imposed in exercise of powers conferred on RBI und
The Reserve Bank of India (RBI) has, by an order dated October 03, 2022, imposed a monetary penalty of ₹48.00 lakh (Rupees Forty-Eight Lakh only) on The Kerala State Co-operative Bank Ltd., Thiruvananthapuram (the bank) for non-compliance with the provisions of section 19 read with section 56 of Banking Regulation Act, 1949 (the Act) and directions issued by RBI on ‘Gold Loan - Bullet Repayment’. This penalty has been imposed in exercise of powers conferred on RBI und
Oct 03, 2022
RBI imposes monetary penalty on The Lunawada Peoples Co-operative Bank Ltd., Mahisagar (Gujarat)
The Reserve Bank of India (RBI) has imposed, by an order dated September 27, 2022, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Lunawada Peoples Co-operative Bank Ltd., Mahisagar (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ and ‘Loans and advances to directors etc - directors as surety/guarantors - Clarification’. This penalty
The Reserve Bank of India (RBI) has imposed, by an order dated September 27, 2022, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Lunawada Peoples Co-operative Bank Ltd., Mahisagar (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ and ‘Loans and advances to directors etc - directors as surety/guarantors - Clarification’. This penalty
Oct 03, 2022
RBI imposes monetary penalty on Rajarambapu Sahakari Bank Ltd. Peth, Sangli
The Reserve Bank of India (RBI) has, by an order dated September 26, 2022, imposed a monetary penalty of ₹28.00 lakh (Rupees Twenty-eight lakh only) on Rajarambapu Sahakari Bank Ltd. Peth, Sangli (the bank) for non-compliance with RBI directions on ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’ and on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in
The Reserve Bank of India (RBI) has, by an order dated September 26, 2022, imposed a monetary penalty of ₹28.00 lakh (Rupees Twenty-eight lakh only) on Rajarambapu Sahakari Bank Ltd. Peth, Sangli (the bank) for non-compliance with RBI directions on ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’ and on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in
Oct 03, 2022
RBI imposes monetary penalty on Nagpur Nagarik Sahakari Bank Ltd., Nagpur
The Reserve Bank of India (RBI) has, by an order dated September 27, 2022, imposed a monetary penalty of ₹18.50 lakh (Rupees Eighteen Lakh Fifty Thousand only) on Nagpur Nagarik Sahakari Bank Ltd., Nagpur (the bank) for non-compliance with RBI directions 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 RBI conferred under section 47 A (1) (c) read with sections 46 (4
The Reserve Bank of India (RBI) has, by an order dated September 27, 2022, imposed a monetary penalty of ₹18.50 lakh (Rupees Eighteen Lakh Fifty Thousand only) on Nagpur Nagarik Sahakari Bank Ltd., Nagpur (the bank) for non-compliance with RBI directions 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 RBI conferred under section 47 A (1) (c) read with sections 46 (4
Oct 03, 2022
RBI imposes monetary penalty on Vasai Vikas Sahakari Bank Ltd., Vasai
The Reserve Bank of India (RBI) has, by an order dated September 29, 2022, imposed a monetary penalty of ₹20.00 lakh (Rupees Twenty lakh only) on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with RBI directions on ‘Frauds monitoring and reporting mechanism’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (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 September 29, 2022, imposed a monetary penalty of ₹20.00 lakh (Rupees Twenty lakh only) on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with RBI directions on ‘Frauds monitoring and reporting mechanism’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 (
Sep 26, 2022
RBI imposes monetary penalty on Hissar Urban Cooperative Bank Ltd., Hisar
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2022, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Hissar Urban Cooperative Bank Ltd., Hisar (the bank) for contravention of Section 35A and section 36 (1) 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 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Bank
The Reserve Bank of India (RBI) has imposed, by an order dated September 23, 2022, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Hissar Urban Cooperative Bank Ltd., Hisar (the bank) for contravention of Section 35A and section 36 (1) 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 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Bank
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Page Last Updated on: December 03, 2024
