COOPERATIVEBANKS
Moneylife Digital Team 08 April 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.49 crore on IDFC First Bank Ltd and LIC Housing Finance Ltd (LICHF) for violating various rules and regulations prescribed by the regulator.

Read More

Moneylife Digital Team 05 April 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs95.40 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.

Read More

Moneylife Digital Team 28 March 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs9.25 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.

Read More

Moneylife Digital Team 27 March 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs89.95 lakh on five cooperative banks for non-compliance with RBI directions or prohibitory orders. The highest penalty of Rs59.90 lakh has been imposed on Nashik-based Janalaxmi Cooperative Bank Ltd.

Read More

Moneylife Digital Team 22 March 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs46.65 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs26.60 lakh has been imposed on Kalupur Commercial Cooperative Bank Ltd from Ahmedabad.

Read More

Moneylife Digital Team 20 March 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.95 crore penalty on Tamilnad Mercantile Bank Ltd and DCB Bank Ltd for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs1.31 crore lakh has been imposed on Tamilnad Mercantile Bank.

Read More

Moneylife Digital Team 01 March 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs39.30 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs23.30 lakh has been imposed on Nagpur-based Shikshak Sahakari Bank Ltd.

Read More

Moneylife Digital Team 29 February 2024
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Rajasthan-based Sumerpur Mercantile Urban Cooperative Bank Ltd due to the lender's inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 28 February 2024.

Read More

Moneylife Digital Team 27 February 2024
Reserve Bank of India (RBI) has imposed a Rs82 lakh penalty on City Union Bank Ltd and Ocean Capital Market Ltd, a non-banking financial company (NBFC), for violating various rules and regulations.

Read More

Moneylife Digital Team 13 February 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.75 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2.50 lakh has been imposed on Pusad Urban Cooperative Bank Ltd from Maharashtra.

Read More

Moneylife Digital Team 09 February 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.13 crore on four cooperative banks, including Bombay Mercantile Cooperative Bank Ltd, for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs63.30 lakh has been imposed on Bombay Mercantile Cooperative Bank.

Read More

Moneylife Digital Team 07 February 2024
The Reserve Bank of India (RBI) has cancelled the registration certificate of Maharashtra-based Jai Prakash Narayan Nagari Sahakari Bank Ltd, due to the lender's inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 6 February 2024.

Read More

Moneylife Digital Team 02 February 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.50 lakh on three cooperative banks from Maharashtra and one from Madhya Pradesh for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Shirpur Peoples Cooperative Bank Ltd from Maharashtra.

Read More

Moneylife Digital Team 30 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs7.25 lakh on five cooperative banks, for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs5 lakh has been imposed on Dr Panjabrao Deshmukh Urban Cooperative Bank Ltd from Maharashtra.

Read More

Moneylife Digital Team 19 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs84 lakh on five cooperative banks, including NKGSB Cooperative Bank Ltd and New India Cooperative Bank Ltd from Mumbai, for non-compliance with the directions issued by the banking regulator.

Read More

Moneylife Digital Team 15 January 2024
Reserve Bank of India (RBI) has cancelled the certificate of registration of Karnataka-based Hiriyur Urban Cooperative Bank Ltd and Gujarat-based Shree Mahalaxmi Mercantile Cooperative Bank Ltd due to the lenders' inadequate capital and poor earnings prospects. RBI has asked both banks to stop banking business from 12 January 2024.

Read More

Moneylife Digital Team 15 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs35.55 lakh on Kerala-based ESAF Small Finance Bank Ltd and Tamil Nadu-based Sakthi Finance Ltd for non-compliance with the directions issued by the banking regulator.

Read More

Moneylife Digital Team 15 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.20 crore on Dhanlaxmi Bank Ltd and Rs1 crore on Punjab & Sind Bank for violating rules and regulations on loans and advances, know your customer (KYC) directions and directions on interest rate on deposits.

Read More

Moneylife Digital Team 09 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs12.75 lakh on five cooperative banks, including three from Gujarat and one each from Telangana and Tamil Nadu, for non-compliance with the directions issued by the banking regulator.

Read More

Moneylife Digital Team 29 December 2023
Reserve Bank of India (RBI) has imposed monetary penalties on five cooperative banks, citing the violation of different laws prescribed by the regulator. Three banks are from Gujarat, while others belong to Maharashtra and West Bengal. RBI has levied a fine of Rs2 lakh, the highest among the banks, on Sardargunj Mercantile Cooperative Bank Ltd from Gujarat.

Read More

Free Helpline
Legal Credit
Feedback