Press Releases - Enforcement - RBI - Reserve Bank of India
Press Releases
Jun 15, 2021
RBl imposes monetary penalty on the Bijnor Urban Co-operative Bank Limited, Bijnor
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Bijnor Urban Co-operative Bank Limited, Bijnor (the bank) for contravention of sections 20 and 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Guarantees, co-acceptances and letters of credit'. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Bijnor Urban Co-operative Bank Limited, Bijnor (the bank) for contravention of sections 20 and 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on 'Guarantees, co-acceptances and letters of credit'. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (
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Jun 15, 2021
RBl imposes monetary penalty on the National Urban Co-operative Bank Limited, New Delhi
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the National Urban Co-operative Bank Limited, New Delhi (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested i
The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the National Urban Co-operative Bank Limited, New Delhi (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested i
Jun 08, 2021
RBI imposes monetary penalty on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat
The Reserve Bank of India (RBI) has imposed, by an order dated June 08, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat (the bank) for non-compliance with RBI directions on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Depositor Education and Awareness Fund Scheme, 2014’. This penalty has been imposed in exercise of p
The Reserve Bank of India (RBI) has imposed, by an order dated June 08, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat (the bank) for non-compliance with RBI directions on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Depositor Education and Awareness Fund Scheme, 2014’. This penalty has been imposed in exercise of p
Jun 07, 2021
RBI imposes monetary penalty on Punjab National Bank
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹2 crore (Rupees Two Crore only) on Punjab National Bank (the bank) for non-compliance of certain provisions of directions issued by RBI contained in the Master Directions on “Frauds – Classification and Reporting by commercial banks and select FIs” dated July 01, 2016 and, the circular on "Creation of a Central Repository of Large Common Exposures - Across Banks” dated
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹2 crore (Rupees Two Crore only) on Punjab National Bank (the bank) for non-compliance of certain provisions of directions issued by RBI contained in the Master Directions on “Frauds – Classification and Reporting by commercial banks and select FIs” dated July 01, 2016 and, the circular on "Creation of a Central Repository of Large Common Exposures - Across Banks” dated
Jun 07, 2021
RBI imposes monetary penalty on Bank of India
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹4.00 crore (Rupees Four crore only) on Bank of India (the bank) for non-compliance with certain provisions of directions issued by RBI contained in the “Master Circular on KYC norms/AML standards/ CFT / Obligation of banks under PMLA, 2002” dated July 1, 2014, circular on “The Depositor Education and Awareness Fund Scheme, 2014 - Section 26A of Banking Regulation Act,
The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹4.00 crore (Rupees Four crore only) on Bank of India (the bank) for non-compliance with certain provisions of directions issued by RBI contained in the “Master Circular on KYC norms/AML standards/ CFT / Obligation of banks under PMLA, 2002” dated July 1, 2014, circular on “The Depositor Education and Awareness Fund Scheme, 2014 - Section 26A of Banking Regulation Act,
May 28, 2021
Reserve Bank of India imposes monetary penalty on HDFC Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated May 27, 2021, a monetary penalty of ₹10.00 crore (Rupees ten crore only) on HDFC Bank Limited (the bank) for contravention of provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949 (the Act). 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) of the Act. This action is based on deficiencies in regulato
The Reserve Bank of India (RBI) has imposed, by an order dated May 27, 2021, a monetary penalty of ₹10.00 crore (Rupees ten crore only) on HDFC Bank Limited (the bank) for contravention of provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949 (the Act). 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) of the Act. This action is based on deficiencies in regulato
May 21, 2021
Reserve Bank of India imposes monetary penalty on Babaji Date Mahila Sahakari Bank Limited, Yavatmal
The Reserve Bank of India (RBl) has imposed, by an order dated May 21, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on Babaji Date Mahila Sahakari Bank Limited, Yavatmal, 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), Know Your Customer (KYC) and Frauds - Classification and Reporting. This penalty has been imposed in exercis
The Reserve Bank of India (RBl) has imposed, by an order dated May 21, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on Babaji Date Mahila Sahakari Bank Limited, Yavatmal, 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), Know Your Customer (KYC) and Frauds - Classification and Reporting. This penalty has been imposed in exercis
May 20, 2021
RBI imposes monetary penalty on Daimler Financial Services India Private Limited, Pune, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated May 19, 2021, imposed a monetary penalty of ₹10 Lakh (Rupees Ten Lakh only) on Daimler Financial Services India Private Limited, Pune (the company), Maharashtra for non-compliance with certain provisions of the directions issued by RBI contained in ‘Reserve Bank Commercial Paper Directions 2017’ and ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reser
The Reserve Bank of India (RBI) has, by an order dated May 19, 2021, imposed a monetary penalty of ₹10 Lakh (Rupees Ten Lakh only) on Daimler Financial Services India Private Limited, Pune (the company), Maharashtra for non-compliance with certain provisions of the directions issued by RBI contained in ‘Reserve Bank Commercial Paper Directions 2017’ and ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reser
May 20, 2021
Reserve Bank of India imposes monetary penalty on Tamilnad Mercantile Bank Ltd
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021 imposed a monetary penalty of ₹1.00 crore (Rupees One crore only) on Tamilnad Mercantile Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Cyber Security Framework in Banks” dated June 2, 2016. The 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) of the Banking Regulation Act,
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021 imposed a monetary penalty of ₹1.00 crore (Rupees One crore only) on Tamilnad Mercantile Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Cyber Security Framework in Banks” dated June 2, 2016. The 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) of the Banking Regulation Act,
May 20, 2021
Reserve Bank of India imposes monetary penalty on City Union Bank Limited
The Reserve Bank of India (RBI) has imposed, by an order dated May 19, 2021, a monetary penalty of ₹1 Crore (Rupees one Crore only) on City Union Bank Limited (the bank) for contravention of/non-compliance with certain provisions of the directions contained in the Reserve Bank of India (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017 and the circulars on Educational Loan Scheme and Credit Flow to Agriculture – Agricultural Loans – Waiv
The Reserve Bank of India (RBI) has imposed, by an order dated May 19, 2021, a monetary penalty of ₹1 Crore (Rupees one Crore only) on City Union Bank Limited (the bank) for contravention of/non-compliance with certain provisions of the directions contained in the Reserve Bank of India (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017 and the circulars on Educational Loan Scheme and Credit Flow to Agriculture – Agricultural Loans – Waiv
May 20, 2021
RBI imposes monetary penalty on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021, imposed a monetary penalty of ₹90 lakh (Rupees ninety lakh only) on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’, ‘Know Your Customer (KYC)’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section
The Reserve Bank of India (RBI) has, by an order dated May 20, 2021, imposed a monetary penalty of ₹90 lakh (Rupees ninety lakh only) on Nutan Nagarik Sahakari Bank Ltd., Ahmedabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’, ‘Know Your Customer (KYC)’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section
May 18, 2021
RBI imposes monetary penalty on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed
The Reserve Bank of India (RBl) has imposed, by an order dated May 17, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed, Maharashtra (the bank) for non-adherence/ violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF). 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 (RBl) has imposed, by an order dated May 17, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed, Maharashtra (the bank) for non-adherence/ violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF). 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
May 11, 2021
RBI imposes monetary penalty on Siddheshwar Sahakari Bank Ltd., Latur, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹3.50 lakh (Rupees Three Lakh Fifty Thousand only) on Siddheshwar Sahakari Bank Ltd., Latur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Exposure Norms and Statutory/ Other Restrictions and Income Recognition and Asset Classification (IRAC) norms. This penalty has been imposed in exercise of p
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹3.50 lakh (Rupees Three Lakh Fifty Thousand only) on Siddheshwar Sahakari Bank Ltd., Latur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI to Urban Cooperative Banks on Exposure Norms and Statutory/ Other Restrictions and Income Recognition and Asset Classification (IRAC) norms. This penalty has been imposed in exercise of p
May 11, 2021
RBI imposes monetary penalty on Shankar Nagari Sahakari Bank Limited, Nanded, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Shankar Nagari Sahakari Bank Limited, Nanded, Maharashtra (the bank) for contravention of/non-compliance with 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 provisions of Section 47 A (1) (c
The Reserve Bank of India (RBl) has imposed, by an order dated May 10, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Shankar Nagari Sahakari Bank Limited, Nanded, Maharashtra (the bank) for contravention of/non-compliance with 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 provisions of Section 47 A (1) (c
May 04, 2021
Reserve Bank of India imposes monetary penalty on Balaji Instalments Limited
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹9.50 lakh (Rupees Nine lakh Fifty thousand only) on Balaji Instalments Limited, Pilibhit (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Returns (Reserve Bank) Directions, 2016’ and ‘Non-Banking Financial Companies – Acceptance of Public Deposits (Reserve Bank) Directions, 1998 (as a
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹9.50 lakh (Rupees Nine lakh Fifty thousand only) on Balaji Instalments Limited, Pilibhit (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Returns (Reserve Bank) Directions, 2016’ and ‘Non-Banking Financial Companies – Acceptance of Public Deposits (Reserve Bank) Directions, 1998 (as a
May 04, 2021
Reserve Bank of India imposes monetary penalty on Jumbo Finvest (India) Limited
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹25.50 lakh (Rupees Twenty five lakh Fifty thousand only) on Jumbo Finvest (India) Limited, Jaipur (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ and ‘Reserve Bank of India,
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹25.50 lakh (Rupees Twenty five lakh Fifty thousand only) on Jumbo Finvest (India) Limited, Jaipur (the company), for non-compliance with certain provisions of the directions issued by RBI contained in ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ and ‘Reserve Bank of India,
May 03, 2021
Reserve Bank of India imposes monetary penalty on ICICI Bank Ltd.
The Reserve Bank of India (RBI) has, by an order dated May 03, 2021, imposed a monetary penalty of ₹3 Crore (Rupees Three Crore only) on ICICI Bank Ltd. (the bank) for contravention of certain directions issued by RBI contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 01, 2015. 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, by an order dated May 03, 2021, imposed a monetary penalty of ₹3 Crore (Rupees Three Crore only) on ICICI Bank Ltd. (the bank) for contravention of certain directions issued by RBI contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 01, 2015. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1
Apr 29, 2021
RBI imposes monetary penalty on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated April 29, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. 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 (RBl) has imposed, by an order dated April 29, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds - Classification and Reporting. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read
Apr 27, 2021
RBI imposes monetary penalty on Himachal Pradesh State Co-operative Bank Ltd., Shimla
The Reserve Bank of India (RBI) has, by an order dated April 27, 2021, imposed a monetary penalty of ₹40.00 Lakh (Rupees Forty Lakh only) on Himachal Pradesh State Co-operative Bank Ltd., Shimla (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and
The Reserve Bank of India (RBI) has, by an order dated April 27, 2021, imposed a monetary penalty of ₹40.00 Lakh (Rupees Forty Lakh only) on Himachal Pradesh State Co-operative Bank Ltd., Shimla (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and
Apr 20, 2021
RBI imposes monetary penalty on Janata Sahakari Bank Limited, Gondia, Maharashtra
The Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Janata Sahakari Bank Limited, Gondia, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. 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 April 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Janata Sahakari Bank Limited, Gondia, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Board of Directors and Exposure Norms and Statutory/Other Restrictions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47
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Page Last Updated on: November 21, 2024
