The Reserve Bank of India (RBI) has, by an order dated February 04, 2022, imposed a monetary penalty of ₹10 lakh (Rupees ten lakh only) on M/s Pooram Finserv Pvt Limited, Thrissur, Kerala (the company) for non-adherence with certain provisions of the RBI Master Direction - Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 and RBI Direction on Raising Money Through Private Placement of Non-Convertible Debentures (NCDs) by NBFCs dated February 20, 2015. T

The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Dharamvir Sambhaji Urban Co-operative Bank Ltd., Pune (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)

The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on National Co-operative Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with the directions issued by RBI on Know Your Customers (KYC) Directions, 2016 (as updated from time to time). 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)

The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Hutatma Sahakari Bank Ltd., Walwa, Sangli (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

The Reserve Bank of India (RBI) has imposed, by an order dated January 25, 2022, a monetary penalty of ₹12.00 lakh (Rupees Twelve lakh only) on Navbharat Co-operative Urban Bank Ltd., Hyderabad for (i) violation of directions issued under Supervisory Action Framework, (ii) violation of directions relating to Basic Cybersecurity Framework and (iii) non-compliance with requirements on IS Audit and Internal Audit Compliance. This penalty has been imposed in exercise of p

The Reserve Bank of India (RBI) has, by an order dated January 18, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on “Rajkot Peoples 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 47A(1)(c) read with S

The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Mogaveera Co-operative Bank Ltd., Mumbai (the bank) for contravention of/non-compliance with directions contained in the Supervisory Action Framework (SAF) issued to the bank and Know Your Customers (KYC) Directions, 2016 (as updated from time to time) issued by RBI under section 36 (1) and section 35 A read with section 56 of the

The Reserve Bank of India (RBI) has, by an order dated January 19, 2022, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on “The Varachha Co-operative Bank Ltd.”, Surat (Gujarat) (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 Circular on 'The Depositor Education and Awareness Fund Sche

The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Vasai Janata Sahakari Bank Ltd., Dist. Palghar (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) a

The Reserve Bank of India (RBI) has, by an order dated January 19, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on The Associate 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 non-compliance with the Master Directions on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of

The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Bhadradri Co-operative Urban Bank Ltd., for non-compliance with directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions-UCBs’ and ‘Management of Advances – 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 Se

The Reserve Bank of India (RBI) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Jammu Central Co-operative Bank Ltd., Jammu (the bank) for contravention of provisions of Section 6 and Section 9 read with Section 56 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 o

The Reserve Bank of India (RBl) has imposed, by an order dated January 20, 2022, a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Jodhpur Nagrik Sahakari Bank Ltd., Jodhpur (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 ves

The Reserve Bank of India (RBI) has, by an order dated January 11, 2022, imposed a monetary penalty of ₹4.00 lakh (Rupees four lakh only) on The Co-operative Bank of Rajkot 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

The Reserve Bank of India (RBI) has imposed, by an order dated January 4, 2022, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Gayatri Co-operative Urban Bank Ltd., Jagtial, Telangana (the bank) for contravention of / non-compliance with provisions of Section 9 read with Section 56 Banking Regulation Act, 1949 (the Act) and certain provisions of the directions issued by RBI contained in the Master Circular on Exposure Norms and Statutory / Other Restrictio

The Reserve Bank of India (RBI) has imposed, by an order dated December 23, 2021, a monetary penalty of ₹30 Lakh (Rupees Thirty Lakh only) on MUFG Bank Ltd. (the bank), for non-compliance with the directions issued by RBI on “Loans and Advances – Statutory and Other Restrictions”. 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) of the Banking Regulation Act, 1949 (the Act) Thi

The Reserve Bank of India (RBI) has imposed, by an order dated December 20, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on Dattatraya Maharaj Kalambe Jaoli Sahakari Bank Ltd., Mumbai (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

The Reserve Bank of India (RBI) has imposed, by an order dated December 20, 2021, a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Chiplun Urban Co-operative Bank Ltd., Ratnagiri (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

The Reserve Bank of India (RBI) has imposed monetary penalty on the following two Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act). Sr. No. Name of the PSO Speaking Order dated Amount of Penalty (₹ lakh) 1 One Mobikwik Systems Private Limited December 07, 2021 100.00 2 Spice Money Limited December 07, 2021 100.00 The penalties have been imposed in exercise of p

The Reserve Bank of India (RBl) has imposed, by an order dated December 15, 2021, a monetary penalty of ₹50,000 (Rupees Fifty thousand only) on Jila Sahakari Kendriya Bank Maryadit, Rajgarh (M.P.) (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