Press Releases - ఆర్బిఐ - Reserve Bank of India
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Press Releases
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సెప్టెం 14, 2021Reserve Bank of India imposes monetary penalty on The Kuppam Co-operative Town Bank Ltd., Kuppam, Chittoor District., Andhra PradeshThe Reserve Bank of India (RBI) has imposed, by an order dated September 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, Chittoor District., Andhra Pradesh (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Income Recognition, Asset Classification, Provisioning and other related Matters – UCB’s dated July 01, 2The Reserve Bank of India (RBI) has imposed, by an order dated September 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, Chittoor District., Andhra Pradesh (the bank) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Circular on Income Recognition, Asset Classification, Provisioning and other related Matters – UCB’s dated July 01, 2
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సెప్టెం 14, 2021Reserve Bank of India Imposes Monetary Penalty on Spice Money LimitedThe Reserve Bank of India (RBI) has imposed monetary penalty of ₹2.44 lakh (Rupees two lakh forty four thousand only) on Spice Money Limited (the entity) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Direction on Issuance and Operation of PPIs in India dated October 11, 2017 (updated as on November 17, 2020). The penalty has been imposed in exercise of powers vested in RBI under the provisions ofThe Reserve Bank of India (RBI) has imposed monetary penalty of ₹2.44 lakh (Rupees two lakh forty four thousand only) on Spice Money Limited (the entity) for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Direction on Issuance and Operation of PPIs in India dated October 11, 2017 (updated as on November 17, 2020). The penalty has been imposed in exercise of powers vested in RBI under the provisions of
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సెప్టెం 08, 2021RBI imposes monetary penalty on The Swasakthi Mercantile Cooperative Urban Bank Ltd., Vijayawada, Krishna District, Andhra PradeshThe Reserve Bank of India (RBI) has imposed, by an order dated September 08, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Swasakthi Mercantile Cooperative Urban Bank Ltd., Vijayawada (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. This penalty has been imposed in exercise of powers vested in RBI under the pThe Reserve Bank of India (RBI) has imposed, by an order dated September 08, 2021, a monetary penalty of ₹5.00 lakh (Rupees five lakh only) on The Swasakthi Mercantile Cooperative Urban Bank Ltd., Vijayawada (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. This penalty has been imposed in exercise of powers vested in RBI under the p
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సెప్టెం 08, 2021RBI imposes monetary penalty on Shikshak Sahakari Bank Ltd., Nagpur, MaharashtraThe Reserve Bank of India (RBI) has, by an order dated September 08, 2021, imposed a monetary penalty of ₹40,000 (Rupees Forty Thousand only) on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with regulatory directions issued by RBI contained in its directive on “Membership of Credit Information Companies (CICs)” and the provisions of Credit Information Companies Rules, 2006 (CIC Rules). This penalty has been imposed in exercise of poweThe Reserve Bank of India (RBI) has, by an order dated September 08, 2021, imposed a monetary penalty of ₹40,000 (Rupees Forty Thousand only) on Shikshak Sahakari Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with regulatory directions issued by RBI contained in its directive on “Membership of Credit Information Companies (CICs)” and the provisions of Credit Information Companies Rules, 2006 (CIC Rules). This penalty has been imposed in exercise of powe
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సెప్టెం 07, 2021RBI imposes monetary penalty on The Sutex Co-operative Bank Ltd., Surat (Gujarat)The Reserve Bank of India (RBI) has, by an order dated September 07, 2021, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed iThe Reserve Bank of India (RBI) has, by an order dated September 07, 2021, imposed a monetary penalty of ₹3.00 lakh (Rupees three lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed i
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సెప్టెం 06, 2021RBI imposes monetary penalty on Sarvodaya Co-operative Bank Ltd., Bhandup (W), MumbaiThe Reserve Bank of India (RBI) has imposed, by an order dated September 06, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai (the bank) for contravention of/non-compliance with directions issued by RBI on Know Your Customers (KYC). 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 BankingThe Reserve Bank of India (RBI) has imposed, by an order dated September 06, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Sarvodaya Co-operative Bank Ltd., Bhandup (W), Mumbai (the bank) for contravention of/non-compliance with directions issued by RBI on Know Your Customers (KYC). 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 Banking
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సెప్టెం 03, 2021RBI imposes monetary penalty on The Akola District Central Co-operative Bank Limited, Akola (Maharashtra)The Reserve Bank of India (RBl) has imposed, by an order dated September 03, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Akola District Central Co-operative Bank Limited, Akola, Maharashtra (the bank) for non-compliance with certain provisions of the directions issued by RBI contained in 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 provisionsThe Reserve Bank of India (RBl) has imposed, by an order dated September 03, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Akola District Central Co-operative Bank Limited, Akola, Maharashtra (the bank) for non-compliance with certain provisions of the directions issued by RBI contained in 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
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సెప్టెం 03, 2021RBI imposes monetary penalty on Bombay Mercantile Co-operative Bank Ltd., MumbaiThe Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹50 lakh (Rupees fifty lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions dated March 05, 2018 and April 11, 2018 issued by RBI under the Supervisory Action FramewThe Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹50 lakh (Rupees fifty lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in in the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 and specific directions dated March 05, 2018 and April 11, 2018 issued by RBI under the Supervisory Action Framew
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సెప్టెం 02, 2021Reserve Bank of India imposes monetary penalty on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat)The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat) (the bank) for non-compliance with directions issued by RBI contained in the Circular on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ dated April 29, 2003. This penalty has been imposed in exercise of pThe Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat) (the bank) for non-compliance with directions issued by RBI contained in the Circular on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ dated April 29, 2003. This penalty has been imposed in exercise of p
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సెప్టెం 01, 2021Reserve Bank of India imposes monetary penalty on Axis Bank LimitedThe Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2021, a monetary penalty of ₹25 lakh (Rupees Twenty five lakh only) on Axis Bank Limited (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. The penalty has been imposed in exercise of powers vested in RBI under provisions of section 47A(1)(c) read with section 4The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2021, a monetary penalty of ₹25 lakh (Rupees Twenty five lakh only) on Axis Bank Limited (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. The penalty has been imposed in exercise of powers vested in RBI under provisions of section 47A(1)(c) read with section 4
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సెప్టెం 01, 2021RBI imposes monetary penalty on Prathamik Shikshak Sahakari Bank Ltd., Satara, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated September 1, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prathamik Shikshak Sahakari Bank Ltd., Satara (the bank) for contravention of/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) andThe Reserve Bank of India (RBI) has imposed, by an order dated September 1, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prathamik Shikshak Sahakari Bank Ltd., Satara (the bank) for contravention of/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) and
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ఆగ 31, 2021RBI imposes monetary penalty on The Bihar State Co-operative Bank Ltd., PatnaThe Reserve Bank of India (RBI) has, by an order dated August 30, 2021, imposed a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on The Bihar State Co-operative Bank Ltd., Patna (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) contained in its circular on “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBThe Reserve Bank of India (RBI) has, by an order dated August 30, 2021, imposed a monetary penalty of ₹5.00 Lakh (Rupees Five Lakh only) on The Bihar State Co-operative Bank Ltd., Patna (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) contained in its circular on “Review of Frauds - Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RB
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ఆగ 27, 2021RBI imposes monetary penalty on New India Co-operative Bank Ltd., Mumbai, MaharashtraThe Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on New India Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI contained in the circular on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism’ dated May 19, 2016. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wiThe Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on New India Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI contained in the circular on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism’ dated May 19, 2016. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read wi
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ఆగ 27, 2021RBI imposes monetary penalty on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, MaharashtraThe Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with direction issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i)The Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹20 lakh (Rupees twenty lakh only) on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra (the bank) for non-compliance with direction issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i)
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ఆగ 26, 2021RBI imposes monetary penalty on Seyad Shariat Finance Limited, Tirunelveli, Tamil NaduThe Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC) Directions, 2016”. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clThe Reserve Bank of India (RBI) has, by an order dated August 26, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Seyad Shariat Finance Limited, Tirunelveli, Tamil Nadu (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC) Directions, 2016”. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with cl
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ఆగ 26, 2021RBI imposes monetary penalty on The Muslim Co-operative Bank Limited, Pune, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Muslim Co-operative Bank Limited, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI 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) read with Section 46 (4) (i) and Section 56 of the BanThe Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Muslim Co-operative Bank Limited, Pune, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI 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) read with Section 46 (4) (i) and Section 56 of the Ban
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ఆగ 26, 2021RBI imposes monetary penalty on Jijamata Mahila Sahakari Bank, Pune, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Jijamata Mahila Sahakari Bank, Pune, Maharashtra (the bank) for contravention of/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) andThe Reserve Bank of India (RBI) has imposed, by an order dated August 26, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Jijamata Mahila Sahakari Bank, Pune, Maharashtra (the bank) for contravention of/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) and
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ఆగ 25, 2021RBl imposes monetary penalty on the Delhi Nagrik Sehkari Bank Limited, New DelhiThe Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers veThe Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Delhi Nagrik Sehkari Bank Limited, New Delhi (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.CO.BPD. (PCB) MC No.13/13.05.000/2015-16 dated July 01, 2015 on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers ve
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ఆగ 25, 2021RBl imposes monetary penalty on The Baghat Urban Co-operative Bank Limited, Solan, Himachal PradeshThe Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ andThe Reserve Bank of India (RBl) has imposed, by an order dated August 19, 2021, a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on The Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and
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ఆగ 24, 2021RBI imposes monetary penalty on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (Gujarat)The Reserve Bank of India (RBI) has, by an order dated August 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (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 provisionsThe Reserve Bank of India (RBI) has, by an order dated August 23, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Lunawada Nagrik Sahakari Bank Ltd., Lunawada, Mahisagar District (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
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ఆగ 23, 2021RBI imposes monetary penalty on Dhanlaxmi Bank Ltd., Thrissur, KeralaThe Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2021, a monetary penalty of ₹27.50 lakh (Rupees Twenty Seven Lakh and Fifty Thousand only) on Dhanlaxmi Bank Ltd., Thrissur, Kerala (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with RBI Circular on 'The Depositor Education and AwarThe Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2021, a monetary penalty of ₹27.50 lakh (Rupees Twenty Seven Lakh and Fifty Thousand only) on Dhanlaxmi Bank Ltd., Thrissur, Kerala (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with RBI Circular on 'The Depositor Education and Awar
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ఆగ 23, 2021RBl imposes monetary penalty on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar PradeshThe Reserve Bank of India (RBl) has imposed, by an order dated August 18, 2021, a monetary penalty of ₹20.00 lakh (Rupees Twenty Lakh only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh (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).The Reserve Bank of India (RBl) has imposed, by an order dated August 18, 2021, a monetary penalty of ₹20.00 lakh (Rupees Twenty Lakh only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh (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).
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ఆగ 13, 2021RBI imposes monetary penalty on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya PradeshThe Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25.00 Lakh (Rupees Twenty-Five Lakh only) on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh (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 47 A (1) (c) read witThe Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25.00 Lakh (Rupees Twenty-Five Lakh only) on Madhya Pradesh Rajya Sahakari Bank Maryadit, Bhopal, Madhya Pradesh (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 47 A (1) (c) read wit
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ఆగ 13, 2021RBI imposes monetary penalty on Jalna People’s Co-operative Bank Limited, Jalna, MaharashtraThe Reserve Bank of India (RBl) has imposed, by an order dated August 13, 2021, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jalna People’s Co-operative Bank Limited, Jalna, 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 & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under theThe Reserve Bank of India (RBl) has imposed, by an order dated August 13, 2021, a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jalna People’s Co-operative Bank Limited, Jalna, 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 & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the
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ఆగ 13, 2021RBI imposes monetary penalty on The Greater Bombay Co-operative Bank Ltd., Mumbai, MaharashtraThe Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty five lakh only) on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of theThe Reserve Bank of India (RBI) has, by an order dated August 12, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty five lakh only) on The Greater Bombay Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Frauds in UCBs: Changes in monitoring and reporting mechanism. This penalty has been imposed in exercise of powers vested in RBI under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the
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ఆగ 12, 2021RBI imposes monetary penalty on Village Financial Services Limited, KolkataThe Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Village Financial Services Ltd, Kolkata (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) ofThe Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Village Financial Services Ltd, Kolkata (the company), for non-compliance with certain provisions of the "Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of
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ఆగ 12, 2021RBI imposes monetary penalty on Cooperatieve Rabobank U.A.The Reserve Bank of India (RBI) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹1 Crore (Rupees One Crore only) on Cooperatieve Rabobank U.A. (the bank) for contravention of provisions of Section 11 (2) (b) (ii) of the Banking Regulation Act, 1949 (the Act), and Reserve Bank directions on ‘Sections 17(1) and 11(2)(b)(ii) of Banking Regulation Act, 1949- Transfer to Reserve Funds’ dated September 23, 2000. The penalty has been imposed in exerciseThe Reserve Bank of India (RBI) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹1 Crore (Rupees One Crore only) on Cooperatieve Rabobank U.A. (the bank) for contravention of provisions of Section 11 (2) (b) (ii) of the Banking Regulation Act, 1949 (the Act), and Reserve Bank directions on ‘Sections 17(1) and 11(2)(b)(ii) of Banking Regulation Act, 1949- Transfer to Reserve Funds’ dated September 23, 2000. The penalty has been imposed in exercise
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ఆగ 11, 2021RBI imposes monetary penalty on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, MaharashtraThe Reserve Bank of India (RBl) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, 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 (The Reserve Bank of India (RBl) has imposed, by an order dated August 11, 2021, a monetary penalty of ₹13.00 lakh (Rupees Thirteen Lakh only) on Ahmednagar Merchant’s Cooperative Bank Limited, Ahmednagar, 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 (
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ఆగ 11, 2021RBI imposes monetary penalty on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad, GujaratThe Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (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’ read with ‘Loans and advances to directors etc - directors as surety/guarantors- Clarification’ and ‘PlacementThe Reserve Bank of India (RBI) has, by an order dated August 11, 2021, imposed a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (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’ read with ‘Loans and advances to directors etc - directors as surety/guarantors- Clarification’ and ‘Placement
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ఆగ 10, 2021RBI imposes monetary penalty on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, MaharashtraThe Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, 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 thThe Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Dr. Babasaheb Ambedkar Urban Co-operative Bank Limited, Nagpur, 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 th
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ఆగ 10, 2021RBI imposes monetary penalty on The Malkapur Urban Cooperative Bank Limited, Malkapur, MaharashtraThe Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors – UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of SectThe Reserve Bank of India (RBl) has imposed, by an order dated August 10, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Malkapur Urban Cooperative Bank Limited, Malkapur, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Board of Directors – UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sect
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ఆగ 10, 2021RBI imposes monetary penalty on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated August 09, 2021, a monetary penalty of ₹10 lakh (Rupees ten lakh only) on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Loans and Advances to Directors, Relatives and Firms/Concerns in which they are Interested; Supervisory action framework issued by RBI under section 35 A and section 36 read withThe Reserve Bank of India (RBI) has imposed, by an order dated August 09, 2021, a monetary penalty of ₹10 lakh (Rupees ten lakh only) on The Gadhinglaj Urban Co-operative Bank Limited, Gadhinglaj, Maharashtra (the bank) for contravention of/non-compliance with the directions issued by RBI on Loans and Advances to Directors, Relatives and Firms/Concerns in which they are Interested; Supervisory action framework issued by RBI under section 35 A and section 36 read with
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ఆగ 04, 2021RBI imposes monetary penalty on Nagarik Sahakari Bank Limited, Bhiwandi, Thane, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated August 04, 2021, a monetary penalty of ₹7 lakh (Rupees Seven lakh only) on Nagarik Sahakari Bank Limited, Bhiwandi, Thane, Maharashtra (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory / Other Restrictions- UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of SectioThe Reserve Bank of India (RBI) has imposed, by an order dated August 04, 2021, a monetary penalty of ₹7 lakh (Rupees Seven lakh only) on Nagarik Sahakari Bank Limited, Bhiwandi, Thane, Maharashtra (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory / Other Restrictions- UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Sectio
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ఆగ 03, 2021RBI imposes monetary penalty on Hewlett-Packard Financial Services (India) Private Ltd.The Reserve Bank of India (RBI) has, by an order dated August 03, 2021, imposed a monetary penalty of ₹6 lakh (Rupees Six Lakh only) on Hewlett-Packard Financial Services (India) Private Ltd, Bengaluru (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’ read with RBI DirectiveThe Reserve Bank of India (RBI) has, by an order dated August 03, 2021, imposed a monetary penalty of ₹6 lakh (Rupees Six Lakh only) on Hewlett-Packard Financial Services (India) Private Ltd, Bengaluru (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’ read with RBI Directive
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ఆగ 02, 2021RBI imposes monetary penalty on The Janalaxmi Co-operative Bank Ltd., Nashik, MaharashtraThe Reserve Bank of India (RBI) has, by an order dated July 29, 2021, imposed a monetary penalty of ₹50.35 lakh (Rupees fifty lakh and thirty-five thousand only) on The Janalaxmi Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of powerThe Reserve Bank of India (RBI) has, by an order dated July 29, 2021, imposed a monetary penalty of ₹50.35 lakh (Rupees fifty lakh and thirty-five thousand only) on The Janalaxmi Co-operative Bank Ltd., Nashik, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of power
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ఆగ 02, 2021RBl imposes monetary penalty on the Noida Commercial Co-operative Bank Ltd. Ghaziabad, Uttar PradeshThe Reserve Bank of India (RBl) has imposed, by an order dated July 30, 2021, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Noida Commercial Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh (the bank) for contravention of sections 23 and 35 A read with section 56 of the Banking Regulation Act, 1949 and regulations on ‘Exposure Norms’ and norms on ‘Board of Directors-UCB’ in relation to director related loans. This penalty has been imposed in exercisThe Reserve Bank of India (RBl) has imposed, by an order dated July 30, 2021, a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Noida Commercial Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh (the bank) for contravention of sections 23 and 35 A read with section 56 of the Banking Regulation Act, 1949 and regulations on ‘Exposure Norms’ and norms on ‘Board of Directors-UCB’ in relation to director related loans. This penalty has been imposed in exercis
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జులై 30, 2021RBI imposes monetary penalty on Innespeta Cooperative Urban Bank Ltd., Rajahmundry, East Godavari District, Andhra PradeshThe Reserve Bank of India (RBI) has imposed, by an order dated July 29, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Innespeta Cooperative Urban Bank Ltd., Rajahmundry, East Godavari District, Andhra Pradesh (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. This penalty has been imposed in exercise of powers vesteThe Reserve Bank of India (RBI) has imposed, by an order dated July 29, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Innespeta Cooperative Urban Bank Ltd., Rajahmundry, East Godavari District, Andhra Pradesh (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. This penalty has been imposed in exercise of powers veste
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జులై 28, 2021RBI imposes monetary penalty on Axis Bank LimitedThe Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5.00 crore (Rupees Five crore only) on Axis Bank Limited (the bank) for contravention of / non-compliance with certain provisions of directions issued by RBI on ‘Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer’ dated May 9, 2019, ‘Cyber Security Framework in Banks’ dated June 2, 2016, ‘Reserve Bank of India (FThe Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5.00 crore (Rupees Five crore only) on Axis Bank Limited (the bank) for contravention of / non-compliance with certain provisions of directions issued by RBI on ‘Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer’ dated May 9, 2019, ‘Cyber Security Framework in Banks’ dated June 2, 2016, ‘Reserve Bank of India (F
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జులై 28, 2021RBI imposes monetary penalty on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar (the bank) for contravention of the directions issued by RBI on Board of Directors - 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 Banking Regulation AcThe Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar (the bank) for contravention of the directions issued by RBI on Board of Directors - 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 Banking Regulation Ac
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జులై 28, 2021RBI imposes monetary penalty on Alibag Co-operative Urban Bank Limited, Raigad, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5 lakh (Rupees Five lakh only) on Alibag Co-operative Urban Bank Limited, Raigad (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 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the BankinThe Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹5 lakh (Rupees Five lakh only) on Alibag Co-operative Urban Bank Limited, Raigad (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 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Bankin
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జులై 27, 2021RBI imposes monetary penalty on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana, GujaratThe 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 (1The 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
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జులై 26, 2021RBI imposes monetary penalty on The Balasore Cooperative Urban Bank Limited, Balasore, OdishaThe 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 47The 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
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జులై 20, 2021RBI imposes monetary penalty on Melur Co-operative Urban Bank Ltd., Madurai District, Tamil NaduThe 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 vesThe 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
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జులై 16, 2021RBI imposes monetary penalty on Tripura State Co-operative Bank Ltd., AgartalaThe 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 CredThe 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
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జులై 15, 2021Reserve Bank of India imposes monetary penalty on Udyam Vikas Sahakari Bank Limited, PuneThe 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 RegulatiThe 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
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జులై 15, 2021Reserve Bank of India imposes monetary penalty on Sawantwadi Urban Cooperative Bank Limited, SindhudurgThe 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 pThe 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
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జులై 07, 2021Reserve Bank of India imposes monetary penalty on fourteen BanksThe 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 contentThe 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
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జులై 02, 2021RBI imposes monetary penalty on Punjab and Sind BankThe 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 BankiThe 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
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జులై 02, 2021RBl imposes monetary penalty on the Nagar Sahkari Bank Limited, EtawahThe 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 provisionThe 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
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జూన్ 29, 2021RBI imposes monetary penalty on The Ahmedabad Mercantile Co-operative Bank Ltd., AhmedabadThe 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 ofThe 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
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జూన్ 29, 2021RBI imposes monetary penalty on Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., HyderabadThe Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹112.50 lakh (Rupees one crore twelve lakh and fifty thousand only) on Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., Hyderabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and ‘Know Your Customer’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) rThe Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹112.50 lakh (Rupees one crore twelve lakh and fifty thousand only) on Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., Hyderabad (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and ‘Know Your Customer’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) r
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జూన్ 29, 2021RBI imposes monetary penalty on SVC Co-operative Bank Ltd., MumbaiThe Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹37.50 lakh (Rupees thirty-seven lakh and fifty thousand only) on SVC Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(cThe Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹37.50 lakh (Rupees thirty-seven lakh and fifty thousand only) on SVC Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Circular on ‘Frauds Monitoring and Reporting Mechanism’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c
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జూన్ 29, 2021RBI imposes monetary penalty on Saraswat Co-operative Bank Ltd., MumbaiThe Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on Saraswat Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Master Circular on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sectionsThe Reserve Bank of India (RBI) has, by an order dated June 28, 2021, imposed a monetary penalty of ₹25 lakh (Rupees twenty-five lakh only) on Saraswat Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI contained in Master Directions on ‘Interest Rate on Deposits’ and Master Circular on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections
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జూన్ 23, 2021RBI imposes monetary penalty on Janseva Sahakari Bank Limited, PuneThe Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹ 2 lakh (Rupees Two lakh only) on Janseva Sahakari Bank Limited, Pune (the bank) for contravention of the direction issued by RBI on Know Your Customer (KYC). 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 Regulation Act, 1949, taking into account the fThe Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹ 2 lakh (Rupees Two lakh only) on Janseva Sahakari Bank Limited, Pune (the bank) for contravention of the direction issued by RBI on Know Your Customer (KYC). 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 Regulation Act, 1949, taking into account the f
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జూన్ 23, 2021RBI imposes monetary penalty on The Ajara Urban Co-operative Bank Ltd., Ajara, KolhapurThe Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on The Ajara Urban Co-operative Bank Ltd., Ajara, Kolhapur (the bank) for contravention of direction issued by the RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act,The Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on The Ajara Urban Co-operative Bank Ltd., Ajara, Kolhapur (the bank) for contravention of direction issued by the RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act,
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జూన్ 23, 2021RBI imposes monetary penalty on Excellent Co-operative Bank Ltd., MumbaiThe Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹4 lakh (Rupees Four lakh only) on Excellent Co-operative Bank Ltd., Mumbai (the bank) for contravention of the directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’. 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 RThe Reserve Bank of India (RBI) has imposed, by an order dated June 23, 2021, a monetary penalty of ₹4 lakh (Rupees Four lakh only) on Excellent Co-operative Bank Ltd., Mumbai (the bank) for contravention of the directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’. 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 R
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జూన్ 21, 2021RBI imposes monetary penalty on Mogaveera Co-operative Bank Limited, MumbaiThe Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹ 12 lakh (Rupees Twelve lakh only) on Mogaveera Co-operative Bank Limited, Mumbai (the bank) for contravention of the provisions of section 26-A read with section 56 of the Act, directions issued by the RBI on Maintenance of Deposit Accounts and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisioThe Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹ 12 lakh (Rupees Twelve lakh only) on Mogaveera Co-operative Bank Limited, Mumbai (the bank) for contravention of the provisions of section 26-A read with section 56 of the Act, directions issued by the RBI on Maintenance of Deposit Accounts and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisio
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జూన్ 21, 2021RBI imposes monetary penalty on The Baramati Sahakari Bank Limited, Baramati, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Baramati Sahakari Bank Limited, Baramati (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 the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking ReguThe Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Baramati Sahakari Bank Limited, Baramati (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 the RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regu
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జూన్ 21, 2021RBI imposes monetary penalty on Indapur Urban Cooperative Bank Ltd., Indapur, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹10 lakh (Rupees Ten lakh only) on Indapur Urban Cooperative Bank Ltd., Indapur (the bank) for contravention of the directions issued by the RBI on Exposure Norms and Statutory / Other Restrictions – UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with SectThe Reserve Bank of India (RBI) has imposed, by an order dated June 21, 2021, a monetary penalty of ₹10 lakh (Rupees Ten lakh only) on Indapur Urban Cooperative Bank Ltd., Indapur (the bank) for contravention of the directions issued by the RBI on Exposure Norms and Statutory / Other Restrictions – UCBs and Know Your Customer (KYC) Directions. This penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47A(1)(c) read with Sect
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జూన్ 18, 2021RBI imposes monetary penalty on The Manjeri Co-operative (Urban) Bank Ltd. No.1726, Manjeri, Malappuram District, KeralaThe Reserve Bank of India (RBI) has imposed, by an order dated June 17, 2021 a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Manjeri Co-operative (Urban) Bank Ltd. No.1726, Manjeri, Malappuram District, Kerala (the bank) for contravention of / non-compliance of certain provisions of the directions issued by RBI contained in the Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated July 1, 2015 anThe Reserve Bank of India (RBI) has imposed, by an order dated June 17, 2021 a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Manjeri Co-operative (Urban) Bank Ltd. No.1726, Manjeri, Malappuram District, Kerala (the bank) for contravention of / non-compliance of certain provisions of the directions issued by RBI contained in the Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated July 1, 2015 an
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జూన్ 18, 2021RBl imposes monetary penalty on the Parwanoo Urban Co-operative Bank Limited, ParwanooThe Reserve Bank of India (RBl) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Parwanoo Urban Co-operative Bank Limited, Parwanoo (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD.(PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and the Master CircularThe Reserve Bank of India (RBl) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Parwanoo Urban Co-operative Bank Limited, Parwanoo (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD.(PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and the Master Circular
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జూన్ 18, 2021RBI imposes monetary penalty on Municipal Co-operative Bank Limited, MumbaiThe Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Municipal Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on Maintenance of Deposit Accounts- Primary (Urban) Co-operative Banks. 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 BThe Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Municipal Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on Maintenance of Deposit Accounts- Primary (Urban) Co-operative Banks. 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 B
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జూన్ 18, 2021RBI imposes monetary penalty on Aman Sahakari Bank Ltd., IchalkaranjiThe Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Aman Sahakari Bank Ltd., Ichalkaranji (the bank) for contravention of the instructions contained in Supervisory Action Framework (SAF) issued by RBI under Section 36(1) read with section 56 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 4The Reserve Bank of India (RBI) has imposed, by an order dated June 18, 2021, a monetary penalty of ₹3 lakh (Rupees Three lakh only) on Aman Sahakari Bank Ltd., Ichalkaranji (the bank) for contravention of the instructions contained in Supervisory Action Framework (SAF) issued by RBI under Section 36(1) read with section 56 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 4
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జూన్ 15, 2021RBl imposes monetary penalty on the Bijnor Urban Co-operative Bank Limited, BijnorThe 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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జూన్ 15, 2021RBl imposes monetary penalty on the National Urban Co-operative Bank Limited, New DelhiThe 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 iThe 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
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జూన్ 08, 2021RBI imposes monetary penalty on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, GujaratThe 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 pThe 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
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జూన్ 07, 2021RBI imposes monetary penalty on Punjab National BankThe 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” datedThe 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
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జూన్ 07, 2021RBI imposes monetary penalty on Bank of IndiaThe 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,
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మే 28, 2021Reserve Bank of India imposes monetary penalty on HDFC Bank LimitedThe 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 regulatoThe 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
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మే 21, 2021Reserve Bank of India imposes monetary penalty on Babaji Date Mahila Sahakari Bank Limited, YavatmalThe 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 exercisThe 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
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మే 20, 2021RBI imposes monetary penalty on Daimler Financial Services India Private Limited, Pune, MaharashtraThe 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 (ReserThe 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
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మే 20, 2021Reserve Bank of India imposes monetary penalty on Tamilnad Mercantile Bank LtdThe 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,
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మే 20, 2021Reserve Bank of India imposes monetary penalty on City Union Bank LimitedThe 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 – WaivThe 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
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మే 20, 2021RBI imposes monetary penalty on Nutan Nagarik Sahakari Bank Ltd., AhmedabadThe 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 sectionThe 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
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మే 18, 2021RBI imposes monetary penalty on Priyadarshini Mahila Nagari Sahakari Bank Limited, BeedThe 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 46The 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
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మే 11, 2021RBI imposes monetary penalty on Shankar Nagari Sahakari Bank Limited, Nanded, MaharashtraThe 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) (cThe 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
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మే 11, 2021RBI imposes monetary penalty on Siddheshwar Sahakari Bank Ltd., Latur, MaharashtraThe 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 pThe 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
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మే 04, 2021Reserve Bank of India imposes monetary penalty on Balaji Instalments LimitedThe 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 aThe 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
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మే 04, 2021Reserve Bank of India imposes monetary penalty on Jumbo Finvest (India) LimitedThe 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,
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మే 03, 2021Reserve 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 (1The 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
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ఏప్రి 29, 2021RBI imposes monetary penalty on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, MaharashtraThe 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) readThe 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
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ఏప్రి 27, 2021RBI imposes monetary penalty on Himachal Pradesh State Co-operative Bank Ltd., ShimlaThe 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) andThe 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
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ఏప్రి 20, 2021RBI imposes monetary penalty on Janata Sahakari Bank Limited, Gondia, MaharashtraThe 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 47The 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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ఏప్రి 20, 2021RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Sagar, Madhya PradeshThe Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Sagar, Madhya Pradesh (the bank) for contravention of/non-compliance with the directions issued by RBI 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) read with Section 46 (4) (i) and Section 56 ofThe Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Sagar, Madhya Pradesh (the bank) for contravention of/non-compliance with the directions issued by RBI 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) read with Section 46 (4) (i) and Section 56 of
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ఏప్రి 20, 2021RBI imposes monetary penalty on Dhule & Nandurbar Jilha Sarkari Nokaranchi Sahakari Bank Ltd., Dhule, MaharashtraThe Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees fifty Thousand only) on Dhule & Nandurbar Jilha Sarkari Nokaranchi Sahakari Bank Ltd., Dhule, 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 tThe Reserve Bank of India (RBl) has imposed, by an order dated April 19, 2021, a monetary penalty of ₹0.50 lakh (Rupees fifty Thousand only) on Dhule & Nandurbar Jilha Sarkari Nokaranchi Sahakari Bank Ltd., Dhule, 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 t
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ఏప్రి 16, 2021Reserve Bank of India imposes monetary penalty on The Mehkar Urban Co-operative Bank Ltd., Mehkar, MaharashtraThe Reserve Bank of India (RBl) has imposed, by an order dated April 16, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on The Mehkar Urban Co-operative Bank Ltd., Mehkar (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 SectioThe Reserve Bank of India (RBl) has imposed, by an order dated April 16, 2021, a monetary penalty of ₹0.50 lakh (Rupees Fifty Thousand only) on The Mehkar Urban Co-operative Bank Ltd., Mehkar (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 Sectio
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మార్చి 31, 2021Reserve Bank of India imposes monetary penalty on The Citizens Co-operative Bank Ltd., Rajkot (Gujarat)The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Citizens Co-operative Bank Ltd., Rajkot (Gujarat) (the bank) for contravention of directions issued by 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 RBI under the provisions of Section 47 A (1) (c) read with SectThe Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Citizens Co-operative Bank Ltd., Rajkot (Gujarat) (the bank) for contravention of directions issued by 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 RBI under the provisions of Section 47 A (1) (c) read with Sect
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మార్చి 30, 2021Reserve Bank of India imposes monetary penalty on Shri Janata Sahakari Bank Ltd., Halol (Gujarat)The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Ltd., Halol (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed in exerciThe Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Ltd., Halol (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed in exerci
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మార్చి 30, 2021Reserve Bank of India imposes monetary penalty on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat)The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on (i) ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ read with ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’, (ii) ‘Maintenance of StaThe Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on (i) ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ read with ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’, (ii) ‘Maintenance of Sta
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మార్చి 23, 2021Reserve Bank of India imposes monetary penalty on Sonata Finance Private LimitedThe Reserve Bank of India (RBI) has, by an order dated March 23, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Sonata Finance Private Limited, Lucknow, Uttar Pradesh (the company), for non-compliance with certain provisions of the directions issued by RBI on ‘Pricing of Credit’ contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. This penaThe Reserve Bank of India (RBI) has, by an order dated March 23, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Sonata Finance Private Limited, Lucknow, Uttar Pradesh (the company), for non-compliance with certain provisions of the directions issued by RBI on ‘Pricing of Credit’ contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. This pena
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మార్చి 23, 2021Reserve Bank of India imposes monetary penalty on Nagpur Mahanagarpalika Karmachari Sahakari Bank Ltd., NagpurThe Reserve Bank of India (RBl) has imposed, by an order dated March 23, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Nagpur Mahanagarpalika Karmachari Sahakari Bank Ltd., Nagpur (the bank) for contravention of/ 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 47A(1)(c) read with Section 46(4The Reserve Bank of India (RBl) has imposed, by an order dated March 23, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Nagpur Mahanagarpalika Karmachari Sahakari Bank Ltd., Nagpur (the bank) for contravention of/ 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 47A(1)(c) read with Section 46(4
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మార్చి 22, 2021Reserve Bank of India imposes monetary penalty on Koyana Sahakari Bank Limited, Karad, Satara, MaharashtraThe Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2021, a monetary penalty of ₹6 lakh (Rupees Six lakh only) on Koyana Sahakari Bank Limited, Karad (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 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking RegulatioThe Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2021, a monetary penalty of ₹6 lakh (Rupees Six lakh only) on Koyana Sahakari Bank Limited, Karad (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 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulatio
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మార్చి 22, 2021Reserve Bank of India imposes monetary penalty on Fedbank Financial Services LimitedThe Reserve Bank of India (RBI) has, by an order dated March 22, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Fedbank Financial Services Limited, Mumbai (the company) for non-compliance with certain provisions of the directions issued by the Reserve Bank of India (RBI) contained in “Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clauThe Reserve Bank of India (RBI) has, by an order dated March 22, 2021, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen lakh only) on Fedbank Financial Services Limited, Mumbai (the company) for non-compliance with certain provisions of the directions issued by the Reserve Bank of India (RBI) contained in “Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clau
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మార్చి 19, 2021RBI imposes monetary penalty on Vyavsayik evam Audhyogik Sahakari Bank Limited, Morena, Madhya PradeshThe Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Vyavsayik evam Audhyogik Sahakari Bank Limited, Morena, Madhya Pradesh (the bank) for contravention of/ 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 withThe Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Vyavsayik evam Audhyogik Sahakari Bank Limited, Morena, Madhya Pradesh (the bank) for contravention of/ 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
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మార్చి 19, 2021RBI imposes monetary penalty on Arvind Sahakari Bank Limited, Katol, MaharashtraThe Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Arvind Sahakari Bank Limited, Katol, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI on installing Off-site ATMs. 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 Banking ReguThe Reserve Bank of India (RBl) has imposed, by an order dated March 18, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Arvind Sahakari Bank Limited, Katol, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI on installing Off-site ATMs. 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 Banking Regu
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మార్చి 18, 2021RBI imposes monetary penalty on The Irinjalakuda Town Co-operative Bank Ltd. No.55, Irinjalakuda, Thrissur District, KeralaThe Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹50.00 lakh (Rupees fifty lakh only) on The Irinjalakuda Town Co-operative Bank Ltd. No.55, Irinjalakuda, Thrissur District, Kerala (the bank) for contravention of/non-compliance with the directions issued by RBI on “Income Recognition and Asset Classification” and on “Management of Advances – UCBs”. The penalty has been imposed on the bank in exercise of powers vestedThe Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹50.00 lakh (Rupees fifty lakh only) on The Irinjalakuda Town Co-operative Bank Ltd. No.55, Irinjalakuda, Thrissur District, Kerala (the bank) for contravention of/non-compliance with the directions issued by RBI on “Income Recognition and Asset Classification” and on “Management of Advances – UCBs”. The penalty has been imposed on the bank in exercise of powers vested
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మార్చి 18, 2021RBI imposes monetary penalty on Priyadarshini Urban Co-operative Bank Ltd, Adoni, Kurnool District, Andhra PradeshThe Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹10.00 lakh (Rupees ten lakh only) on Priyadarshini Urban Co-operative Bank Ltd, Adoni, Kurnool District, Andhra Pradesh (the bank) for contravention of / non-compliance with the directions issued by RBI on sanction of loans to Directors of the Bank, “Income Recognition and Asset Classification norms”, and “Exposure Norms and Statutory / Other restrictions – UCBs”. ThiThe Reserve Bank of India (RBI) has imposed, by an order dated March 17, 2021, a monetary penalty of ₹10.00 lakh (Rupees ten lakh only) on Priyadarshini Urban Co-operative Bank Ltd, Adoni, Kurnool District, Andhra Pradesh (the bank) for contravention of / non-compliance with the directions issued by RBI on sanction of loans to Directors of the Bank, “Income Recognition and Asset Classification norms”, and “Exposure Norms and Statutory / Other restrictions – UCBs”. Thi
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మార్చి 17, 2021Reserve Bank of India imposes monetary penalty on Indore Paraspar Sahakari Bank Limited, IndoreThe Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹1.00 lakh on Indore Paraspar Sahakari Bank Limited, Indore (the bank) for contravention of/ 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 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking RegulThe Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹1.00 lakh on Indore Paraspar Sahakari Bank Limited, Indore (the bank) for contravention of/ 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 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regul
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మార్చి 17, 2021Reserve Bank of India imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, TikamgarhThe Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹0.50 lakh on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). 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 Regulation Act, 1949, taking intoThe Reserve Bank of India (RBl) has imposed, by an order dated March 16, 2021, a monetary penalty of ₹0.50 lakh on Jila Sahakari Kendriya Bank Maryadit, Tikamgarh (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customer (KYC). 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 Regulation Act, 1949, taking into
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మార్చి 16, 2021RBI imposes monetary penalty on State Bank of IndiaThe Reserve Bank of India (RBI) has, by an order dated March 15, 2021, imposed a monetary penalty of ₹2 Crore (Rupees Two Crore only) on State Bank of India (the bank) for contravention of provisions of section 10 (1) (b) (ii) of the Banking Regulation Act, 1949 (the Act) and specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission. This penalty has been imposed in exercise of powers vested in RBI under the provisThe Reserve Bank of India (RBI) has, by an order dated March 15, 2021, imposed a monetary penalty of ₹2 Crore (Rupees Two Crore only) on State Bank of India (the bank) for contravention of provisions of section 10 (1) (b) (ii) of the Banking Regulation Act, 1949 (the Act) and specific directions of RBI issued to the bank on payment of remuneration to employees in the form of commission. This penalty has been imposed in exercise of powers vested in RBI under the provis
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