The Reserve Bank of India (RBI) has, by an order dated July 27, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana (Gujarat) (the bank) for non-compliance with directions issued by the RBI on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of section 47 A (1

The Reserve Bank of India (RBI) has, by an order dated July 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Balasore Cooperative Urban Bank Limited, Balasore, Odisha (the bank) for contravention of the direction issued by RBI as contained in Master Circular on “Exposure Norms and Statutory/Other Restrictions-UCBs”, dated July 01, 2015. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47

The Reserve Bank of India (RBI) has imposed, by an order dated July 20, 2021 a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Melur Co-operative Urban Bank Ltd. (No.A 330), Melur, Madurai District, Tamil Nadu (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Board of Directors – UCBs dated July 1, 2015. The penalty has been imposed on the bank in exercise of powers ves

The Reserve Bank of India (RBI) has, by an order dated July 15, 2021, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Tripura State Co-operative Bank Ltd., Agartala (the bank) for non-compliance with regulatory directions issued by RBI contained in its Directive on “Membership of Credit Information Companies (CICs)”. This penalty has been imposed in exercise of powers vested in RBI under clause (iii) of sub-section (1) of section 25 of the Cred

The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Udyam Vikas Sahakari Bank Limited, Pune (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 Banking Regulati

The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2021, a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on Sawantwadi Urban Cooperative Bank Limited, Sindhudurg (the bank) for contravention of/ non-compliance with directions contained in the Supervisory Action Framework (SAF) issued by RBI under sections 35A and section 36(1) read with section 56 of the Banking Regulation Act, 1949 (the Act).This penalty has been imposed in exercise of p

The Reserve Bank of India (RBI) has imposed, by orders dated July 06, 2021, monetary penalty on fourteen banks, as detailed below, for non-compliance with certain provisions of directions issued by RBI on ‘Lending to Non-Banking Financial Companies (NBFCs)’, ‘Bank Finance to Non-Banking Financial Companies (NBFCs)’, ‘Loans and Advances – Statutory and Other Restrictions’, ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ read with the content

The Reserve Bank of India (RBI) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹25.00 lakh (Rupees twenty five lakh only) on Punjab and Sind Bank (the bank) for non-compliance with certain provisions of directions issued by RBI on ‘Cyber Security Framework in Banks’ dated June 2, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banki

The Reserve Bank of India (RBl) has imposed, by an order dated July 02, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Nagar Sahkari Bank Limited, Etawah (the bank) for contravention of section 35A read with section 56 of the Banking Regulation Act, 1949 and regulations 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 provision

The Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹62.50 lakh (Rupees sixty-two lakh and fifty thousand only) on The Ahmedabad Mercantile Co-operative Bank Ltd., Ahmedabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of