COOPERATIVEBANKS
Moneylife Digital Team 11 October 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs9 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 08 October 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs10.10 lakh on four cooperative banks from Maharashtra and one from Odisha for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 01 October 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.50 lakh Penalty on Jai Bhawani Sahakari Bank Ltd for contravention of the provisions of section 26 A of the Banking Regulation Act (BR Act), non-compliance with directions on know-your-customer (KYC) and maintenance of deposit accounts – primary urban cooperative banks (UCBs).

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Moneylife Digital Team 27 September 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs63.10 lakh on two cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 20 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs50,000 Penalty on Dr Babasaheb Ambedkar Sahakari Bank Ltd from Maharashtra for non-compliance with directions on loans and advances to directors, relatives and firms or concerns in which they are interested.

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Moneylife Digital Team 19 September 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs8 lakh on two cooperative banks for failing to comply with the directions issued by the banking regulator.

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Moneylife Digital Team 11 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1.91 crore on Axis Bank Ltd for contravention of provisions of section 19 (1) (a) of the Banking Regulation Act (BR Act) and non-compliance with directions on the interest rate on deposits, know-your-customer (KYC) norms and credit flow to collateral free agricultural loans.

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Moneylife Digital Team 10 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1 crore on HDFC Bank Ltd for failing to follow guidelines on interest rates on deposits, the use of recovery agents, customer service standards in banks and the management of risks and code of conduct for outsourcing financial services.

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Moneylife Digital Team 10 September 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs10.50 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs4.50 lakh has been imposed on Samarth Sahakari Bank Ltd from Maharashtra.

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Moneylife Digital Team 09 September 2024
Reserve Bank of India (RBI) has imposed penalties worth Rs13.50 lakh on three housing finance companies (HFCs) for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 03 September 2024
Reserve Bank of India (RBI) has imposed a total penalty of Rs1.25 lakh on Kolkata based Durgapur Mahila Cooperative Bank and Tamil Nadu based RAR Fincare Limited a non-banking financial company (NBFC) for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 02 September 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs2.70 crore on UCO Bank and Cent Bank Home Finance Limited for violating various rules and regulations prescribed by the regulator. The highest penalty of Rs2.68 crore has been imposed on UCO Bank.

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Moneylife Digital Team 29 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs13 lakh two cooperative banks from Uttar Pradesh (UP) and one from Uttarakhand for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 28 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs3.50 lakh on two cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 27 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.25 lakh on Gujarat-based Valsad Mahila Nagarik Sahakari Bank Ltd for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 26 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs3.91 crore on two non-banking financial companies (NBFCs), Innofin Solutions Pvt Ltd and NDX P2P Pvt Ltd, for violating various rules and regulations set by the banking regulator.

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Moneylife Digital Team 23 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs36.50 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 19 August 2024
Reserve Bank of India (RBI) has imposed penalties of Rs1.42 crore Bank of Maharashtra (BoM) and two non-banking financial companies (NBFC) Poonawalla Fincorp Ltd and Hinduja Leyland Finance Ltd, for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 13 August 2024
Reserve Bank of India (RBI) has imposed penalties of Rs1.99 crore on two non-banking financial companies (NBFC), one cooperative Bank and a housing finance company (HFC) for non-compliance with the directions issued by the banking regulator.

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Moneylife Digital Team 12 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.06 crore on Union Bank of India for non-compliance with directions on creating a central repository of large common exposures across banks and know-your-customer (KYC).

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