The Reserve Bank of India (RBI) has imposed, by an order dated August 10, 2023, a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on Walchand Nagar Sahakari Bank Ltd., Pune, Maharashtra (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 conferred under section 47 A (1) (c) read with sections 46 (4) (i) and Section 56 o

The Reserve Bank of India (RBI) has imposed, by an order dated August 08, 2023, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on Ordnance Equipment Factory Prarambhik Sahkari Bank Ltd., Kanpur (the bank) for non-compliance with specific directions issued by 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 (4) (i) and Section 56 o

The Reserve Bank of India (RBI) has imposed, by an order dated August 09, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Chiplun Urban Co-operative Bank Ltd., Chiplun, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Management of Advances’ and ‘Maintenance of Deposit Accounts’. 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

The Reserve Bank of India (RBI) has imposed, by an order dated August 07, 2023, a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on The Shibpur Co-operative Bank Ltd., West Bengal (the bank) for non-compliance with 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 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the

The Reserve Bank of India (RBl) has imposed, by an order dated August 08, 2023, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Vishwanathrao Patil Murgud Sahakari Bank Ltd., Murgud, Maharashtra (the bank) for non-compliance with 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 47 A (1) (c) read with Section 46 (4) (i) a

The Reserve Bank of India (RBI) has imposed, by an order dated August 07, 2023, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Aska Co-operative Central Bank Ltd., Aska (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) and Section

The Reserve Bank of India (RBI) has imposed, by an order dated August 07, 2023, a monetary penalty of ₹1,00,000/- (Rupees One Lakh only) on Bally Cooperative Bank Ltd., Howrah, West Bengal (the bank) for non-compliance with certain provisions of ‘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) and Section 56 o

The Reserve Bank of India (RBI) has imposed, by an order dated August 07, 2023, a monetary penalty of ₹2,50,000/- (Rupees Two Lakh Fifty Thousand only) on The Nabapalli Co-operative Bank Ltd., West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Exposure Norms and Statutory/Other Restrictions - UCBs’ and certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. This penalty has been imposed in exercise o

The Reserve Bank of India (RBI) has imposed, by an order dated August 07, 2023, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on Baroda Gujarat Gramin Bank, Vadodara (Gujarat) (the bank) for contravention of directions issued by NABARD on ‘Frauds - Guidelines for Classification, reporting and Monitoring of Frauds’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i)

The Reserve Bank of India (RBI) has, by an order dated August 03, 2023 imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Islampur Urban Co-operative Bank Limited, Islampur, (Maharashtra) (the bank) for non-compliance with provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and ‘Maintenance of Deposit Accounts-UC