The Reserve Bank of India (RBI) has, by an order dated December 08, 2022, imposed a monetary penalty of ₹2 lakh (Rupees Two lakh only) on Wai Urban Co-operative Bank Ltd., Satara (the bank) for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’ (IRAC norms). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4)

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

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

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

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur (Maharashtra) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with S

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹75,000/- (Rupees Seventy Five Thousand only) on Nagrik Sahakari Bank Maryadit, Raigarh, Chhattisgarh (the bank) for contravention of/non-adherence with the Directions issued by RBI to Urban Co-operative Banks on Exposure Norms & Statutory/Other Restrictions-UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI unde

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹1.25 lakh (Rupees One lakh Twenty Five Thousand only) on Jijau Commercial Co-operative Bank Ltd., Amravati (Maharashtra) (the bank) for contravention of/non-adherence with the directions issued by RBI to Urban Co-operative Banks on Know Your Customer (KYC) and opening of on-site ATM. This penalty has been imposed in exercise of powers vested in RBI under the provis

The Reserve Bank of India (RBl) has imposed, by an order dated December 05, 2022, a monetary penalty of ₹2.50 lakh (Rupees Two lakh fifty thousand only) on The Vaidyanath Urban Co-operative Bank Ltd., Beed (Maharashtra) (the bank) for contravention of/non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c)

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

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

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

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

The Reserve Bank of India (RBI) has, by an order dated December 09, 2022, imposed a monetary penalty of ₹1.50 Lakh (Rupees One Lakh Fifty Thousand only) on Patan Nagarik Sahakari Bank Ltd., Patan (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in the RB

The Reserve Bank of India (RBI) has imposed, by an order dated November 28, 2022, a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Bharat Co-operative Bank Limited, Bengaluru, Karnataka (the bank) for non-adherence / violation of directions issued under 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 S

The Reserve Bank of India (RBI) has, by an order dated November 28, 2022, imposed a monetary penalty of ₹42.00 lakh (Rupees Forty-two lakh only) on Arunachal Pradesh Rural Bank (the bank), for non-compliance with the directions issued by RBI on ‘Strengthening of Prudential Norms- Provisioning Asset Classification and Exposure Limit’ and ‘Regional Rural Banks- Income Recognition, Asset Classification and Provisioning Norms- Non-Performing Assets (NPAs)’. This penalty h

The Reserve Bank of India (RBI) has, by an order dated November 24, 2022, imposed a monetary penalty of ₹20.00 lakh (Rupees twenty lakh only) on Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh (the bank) for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’ (IRAC norms). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47A(1)(c

The Reserve Bank of India (RBI) has, by an order dated November 23, 2022, imposed a monetary penalty of ₹1.25 crore (Rupees one crore twenty-five lakh only) on Zoroastrian Co-operative Bank Ltd., Bombay (the bank) for non-compliance with RBI directions on ‘Discounting of Bills by UCBs – Restricted Letters of Credit (LC)’ and the provisions of the Co-operative Banks (Period of Preservation of Records) Rules, 1985 (Rules) framed under section 45Y read with section 56 of

The Reserve Bank of India (RBI) has, by an order dated November 21, 2022, imposed a monetary penalty of ₹50.00 lakh (Rupees fifty lakh only) on Bharat Co-operative Bank (Mumbai) Limited, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’ (IRAC norms). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47A(1)(c) read with

The Reserve Bank of India (RBI) has imposed, by an order dated November 24, 2022, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Tiruchirappalli District Central Cooperative Bank Ltd., Tiruchirappalli, Tamil Nadu (the bank) for non-adherence/violation of directions issued under Income Recognition, Asset Classification, Provisioning and Other Related Matters. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Secti

The Reserve Bank of India (RBI) has imposed, by an order dated November 25, 2022, a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Cumbum Co-operative Town Bank Ltd., Cumbum, Prakasam District, Andhra Pradesh (the bank) for non-adherence / violation of directions issued under Frauds - Classification and Reporting and 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)