COOPERATIVEBANKS
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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Moneylife Digital Team 24 December 2024
Reserve Bank of India (RBI) has imposed a total penalty of Rs12.10 lakh on five cooperative banks from Gujarat for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 20 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs22.60 lakh on four cooperative banks from Madhya Pradesh (MP) and one from Mumbai, Maharashtra for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 17 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs22.96 lakh on four cooperative banks, including three from Gujarat and one from Maharashtra, for non-compliance with the directions issued by the banking regulator.

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In a reformist kind of judgement, the Kerala High Court has ruled that if documents held by a cooperative society are accessible to the registrar of cooperative societies and are not exempt from disclosure under section 8 of the Right to Information (RTI) Act, the registrar is obliged to procure the required information from the society and provide it to the RTI applicant.

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Moneylife Digital Team 13 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs2.25 lakh on three cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs1 lakh has been imposed on Pondicherry Cooperative Urban Bank Ltd.

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Moneylife Digital Team 12 December 2024
Reserve Bank of India (RBI) has imposed a fine of Rs5 lakh on Punjab-based Ropar Central Cooperative Bank Ltd for non-compliance with directions under the provisions of Section 26A of the Banking Regulation Act (BR Act).

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Moneylife Digital Team 10 December 2024
The Reserve Bank of India (RBI) has imposed a total penalty of Rs4.50 lakh on Gujarat-based Apani Sahkari Bank Ltd and Halol Mercantile Cooperative Bank Ltd for failing to follow directions issued by the banking regulator.

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Moneylife Digital Team 06 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs8 lakh on three cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs5 lakh has been imposed on Mirzapur Zila Sahkari Bank Ltd from Uttar Pradesh.

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Moneylife Digital Team 03 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs5 lakh each on two cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 29 November 2024
Reserve Bank of India (RBI) has imposed penalties of Rs8 lakh on a non-banking financial company (NBFC) and three cooperative banks for failing to comply with the directions issued by the banking regulator.

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Moneylife Digital Team 26 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs7.95 lakh on four cooperative banks and GPT Sons Pvt Ltd for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 22 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs8.35 lakh on five cooperative banks, including four from Gujarat and one from Odisha, for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 19 November 2024
Reserve Bank of India (RBI) has imposed a penalty of over Rs8.50 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs4.10 lakh has been imposed on Bihar-based National Central Cooperative Bank Ltd.

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Moneylife Digital Team 15 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs11.64 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 13 November 2024
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Vijayawada, Andhra Pradesh-based Durga Cooperative Urban Bank Ltd due to inadequate capital and poor earning prospects of the lender.

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