COOPERATIVEBANKS
Moneylife Digital Team 16 May 2025
Reserve Bank of India (RBI) has imposed penalties of Rs5 lakh on four cooperative Banks and one non-banking financial company (NBFC) for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 09 May 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs4 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 08 April 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs1 lakh on Nashik, Maharashtra-based Shri Ganesh Sahakari Bank Ltd for contravention of the provisions of Section 26A of the Banking Regulation Act (BR Act) and non-compliance with directions issued on know-your-customer (KYC).

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Moneylife Digital Team 31 March 2025
Reserve Bank of India (RBI) has imposed penalties of Rs1.16 crore on fifteen financial institutions, including nine cooperative Banks, three non-banking financial companies (NBFCs)

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Moneylife Digital Team 29 March 2025
Contrary to her claim and use of social media trolls to attack Moneylife's managing editor, the very same economic offences wing (EOW) of the Mumbai police that she quoted has confirmed to multiple media outlets that actress Preity Zinta had indeed defaulted on a loan repayment to the beleaguered New India Cooperative Bank Ltd.

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Moneylife Digital Team 28 March 2025
Reserve Bank of India (RBI) has imposed penalties of Rs25.95 lakh on nine cooperative Banks and one non-banking financial company (NBFC) for noncompliance with the directions issued by the banking regulator.

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Moneylife Digital Team 18 March 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs9.50 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 21 February 2025
As early as in January 2020, ex-employees of New India Cooperative Bank Ltd had warned the Reserve Bank of India (RBI) about malfunctioning operations and alleged corrupt practices in the Bank. However, RBI failed to take concrete action against the Bank in a timely manner, says a report from IndianCooperative.com.

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Moneylife Digital Team 18 February 2025
Another cooperative bank is again at the centre of a financial scandal, with the arrest of Hitesh Mehta, general manager and head of accounts at New India Cooperative Bank, for allegedly siphoning off Rs122 crore. However, what appears to be a simple case of embezzlement could, in reality, be a symptom of a much deeper institutional failure—one that raises serious questions about the role of the Reserve Bank of India (RBI) in detecting and preventing such frauds.

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Moneylife Digital Team 18 February 2025
Reserve Bank of India (RBI) has imposed penalties of Rs8.55 lakh on four cooperative Banks and a non-banking financial company (NBFC) for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 14 February 2025
The Reserve Bank of India (RBI) has imposed operational restrictions on New India Cooperative Bank, a Mumbai-based multi-state scheduled bank, citing supervisory concerns and the lender's liquidity position.

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Moneylife Digital Team 14 February 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs6.25 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 28 January 2025
The Reserve Bank of India (RBI) has imposed a total penalty of Rs7 lakh on Gujarat-based Marketyard Commercial Cooperative Bank Ltd

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Moneylife Digital Team 20 January 2025
The Mumbai office of the directorate of enforcement (ED) has restituted immovable properties worth Rs289.54 crore to the competent authority appointed under the Maharashtra Protection of Interest of Depositors (MPID) Act by the Maharashtra government in the case of the Pen Cooperative Urban Bank Ltd fraud.

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Moneylife Digital Team 20 January 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs1.75 lakh on Mukkuperi Cooperative Urban Bank Ltd from Tamil Nadu for non-compliance with specific directions issued by RBI under the supervisory action framework (SAF)

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Moneylife Digital Team 17 January 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs5 lakh on Parbhani District Central Cooperative Bank (DCC) Ltd from Maharashtra for contravention of provisions of Section 20 and Section 26A of the Banking Regulation Act (BR Act).

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Moneylife Digital Team 14 January 2025
Reserve Bank of India (RBI) has imposed penalties of Rs3.75 lakh on five cooperative banks from Tamil Nadu for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 10 January 2025
Reserve Bank of India (RBI) has imposed penalties of Rs19.50 lakh on four cooperative Banks and a non-banking financial company (NBFC) for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 03 January 2025
Reserve Bank of India (RBI) has slapped a penalty of Rs48.7 lakh on three cooperative banks from Maharashtra for non-compliance with directions by the regulator. It includes Pune People's Cooperative Bank Ltd (Rs25 lakh), The Akola Janata Commercial Cooperative Bank Ltd (Rs15.40 lakh) and The Cosmos Cooperative Bank Ltd (Rs8.30 lakh).

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Moneylife Digital Team 31 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs51.40 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs36.40 lakh has been imposed on Punjab Gramin Bank.

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