Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Oct 25, 2011
Pravara Sahakari Bank Ltd., Ahmednagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Pravara Sahakari Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of directives/guidelines of the Reserve Bank of India on maximum limit on advances as modified from time to time, by sanction
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Pravara Sahakari Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of directives/guidelines of the Reserve Bank of India on maximum limit on advances as modified from time to time, by sanction
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Oct 24, 2011
The Baroda Traders Co-operative Bank Ltd., Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on The Baroda Traders Co-operative Bank Ltd., Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for non adherence to Know Your Customers (KYC) norms. The Reserve Bank of India had issued a show cause notice to the bank, in res
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on The Baroda Traders Co-operative Bank Ltd., Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for non adherence to Know Your Customers (KYC) norms. The Reserve Bank of India had issued a show cause notice to the bank, in res
Oct 19, 2011
The Jain Sahakari Bank Ltd., Mumbai - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Jain Sahakari Bank Ltd., Mumbai, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the directives/guidelines of Reserve Bank on compliance with Know Your Customers (KYC) norms/Anti Money Laundering (AML) guid
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Jain Sahakari Bank Ltd., Mumbai, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the directives/guidelines of Reserve Bank on compliance with Know Your Customers (KYC) norms/Anti Money Laundering (AML) guid
Oct 13, 2011
Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of directives/guidelines of the Reserve Bank of India on loans/advances to directors, by purchasing cheques beyond ` 0.50 lakh pertaining to relatives of a
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of directives/guidelines of the Reserve Bank of India on loans/advances to directors, by purchasing cheques beyond ` 0.50 lakh pertaining to relatives of a
Sep 30, 2011
Alavi Co-operative Bank Ltd., Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Alavi Co-operative Bank Ltd., Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for non-adherence to Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show ca
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Alavi Co-operative Bank Ltd., Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for non-adherence to Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show ca
Sep 28, 2011
The Mansa Nagarik Sahakari Bank Lld., Mansa, Dist. Gandhinagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Mansa Nagarik Sahakari Bank Lld., Mansa, Dist. Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank India's instructions on submission of Cash Transaction Reports (CTRs) in respect of cash transaction above ` 10.00 lakh to Financial In
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Mansa Nagarik Sahakari Bank Lld., Mansa, Dist. Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank India's instructions on submission of Cash Transaction Reports (CTRs) in respect of cash transaction above ` 10.00 lakh to Financial In
Sep 26, 2011
Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of Reserve Bank of India's instructions regarding Know Your Customers (KYC) norms and Anti Money Laundering
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of Reserve Bank of India's instructions regarding Know Your Customers (KYC) norms and Anti Money Laundering
Sep 26, 2011
Shri Mahavir Urban Co-operative Bank Ltd., Solapur - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Shri Mahavir Urban Co-operative Bank Ltd., Solapur, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of the directives guidelines of the Reserve Bank on individual/single exposure ceiling for lending operations by Urban Co-o
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Shri Mahavir Urban Co-operative Bank Ltd., Solapur, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of the directives guidelines of the Reserve Bank on individual/single exposure ceiling for lending operations by Urban Co-o
Sep 09, 2011
RBI penalises Credit Agricole - Corporate & Investment Bank and Karnataka Bank for Non-Compliance with Its Directives on Derivatives
The Reserve Bank of India has imposed a penalty of Rs.10 lakh (Rupees Ten Lakh only) on Credit Agricole – Corporate & Investment Bank and a penalty of Rs. Five lakh (Rupees five lakh only) on Karnataka Bank Limited for non-compliance with its directives on derivatives. The penalty on Credit Agricole – Corporate & Investment Bank has been imposed for failing to carry out proper due diligence on user appropriateness and suitability of products and the compliance
The Reserve Bank of India has imposed a penalty of Rs.10 lakh (Rupees Ten Lakh only) on Credit Agricole – Corporate & Investment Bank and a penalty of Rs. Five lakh (Rupees five lakh only) on Karnataka Bank Limited for non-compliance with its directives on derivatives. The penalty on Credit Agricole – Corporate & Investment Bank has been imposed for failing to carry out proper due diligence on user appropriateness and suitability of products and the compliance
Sep 08, 2011
The Sankheda Nagarik Sahakari Bank Limited, Sankheda, Dist. Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Sankheda Nagrik Sahakari Bank Limited, Sankheda, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not submission of Cash Transaction Reports (CTRs) in respect of cash transaction in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), a
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Sankheda Nagrik Sahakari Bank Limited, Sankheda, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not submission of Cash Transaction Reports (CTRs) in respect of cash transaction in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), a
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