The Reserve Bank of India (RBI) has, by an order dated December 08, 2022, imposed a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Wai Urban Co-operative Bank Ltd., Satara (the bank) for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’ (IRAC norms). 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 (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹1.25 lakh (Rupees One lakh Twenty Five Thousand only) on Jijau Commercial Co-operative Bank Ltd., Amravati (Maharashtra) (the bank) for contravention of/non-adherence with the directions issued by RBI to Urban Co-operative Banks on Know Your Customer (KYC) and opening of on-site ATM. This penalty has been imposed in exercise of powers vested in RBI under the provis

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹2.50 lakh (Rupees Two lakh fifty thousand only) on The Vaidyanath Urban Co-operative Bank Ltd., Beed (Maharashtra) (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Know Your Customer (KYC). 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 (RBI) has imposed, by an order dated December 07, 2022, a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty thousand only) on The Tura Urban Cooperative Bank Ltd., Meghalaya (the bank) for non-adherence/violation of specific directions issued under Supervisory Action Framework (SAF) and certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. This penalty has been imposed in exercise of powers vested

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹1.25 lakh (Rupees One lakh Twenty-Five Thousand only) on Nagrik Sahakari Bank Maryadit, Jagdalpur, Chhattisgarh (the bank) for contravention of/ non-adherence with the Directions issued by RBI to Urban Co-operative Banks on Board of Directors, Exposure Norms & Statutory/Other Restrictions-UCBs and Know Your Customer (KYC). This penalty has been imposed in exerc

The Reserve Bank of India (RBl) has imposed, by an order dated December 06, 2022, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Shahdol (M.P.) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by NABARD. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sectio

The Reserve Bank of India (RBl) has imposed, by an order dated December 06, 2022, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Bilaspur (C.G.) (the bank) for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by NABARD. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Sect

The Reserve Bank of India (RBI) has imposed, by an order dated December 07, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Eastern & North-East Frontier Railway Co-operative Bank Ltd., Kolkata, West Bengal (the bank) for contravention of/ non-adherence with (i) specific directions issued under Supervisory Action Framework (SAF) and (ii) certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. This penalty ha

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jila Sahakari Kendriya Bank Maryadit, Chhatarpur (Madhya Pradesh) (the bank) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949 (the Act) and directions issued by the Reserve Bank of India (RBI) on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Indore Premier Co-operative Bank Ltd., Indore (M.P) (the bank) for contravention of/non-compliance with the provisions of section 19 read with section 56 of the Banking Regulation Act, 1949 (the Act) and directions issued by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47