RBI Imposes Rs9 Lakh Penalty on 2 Cooperative Banks from Northeast
Moneylife Digital Team 10 September 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs9.10 lakh on two cooperative banks from the North-eastern states for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs7.50 lakh has been imposed on Tripura State Cooperative Bank Ltd. Manipur Women’s Cooperative Bank Ltd has been penalised Rs1.60 lakh.
 
Tripura State Cooperative Bank has been penalised for non-compliance with certain directions issued by RBI on know-your-customer (KYC).
 
The statutory inspection of Tripura State Cooperative Bank, conducted by the National Bank for Agriculture and Rural Development (NABARD), revealed that the lender had failed to upload KYC records of customers onto the central KYC records registry (CKYCR) within the prescribed timeline.
 
Manipur Women’s Cooperative Bank has been fined for non-compliance with directions issued by RBI on exposure norms and statutory or other restrictions for urban cooperative banks (UCBs).
 
RBI's statutory inspection revealed that Manipur Women’s Cooperative Bank had breached the prudential inter-bank (gross) exposure limit and breached the prudential inter-bank counterparty exposure limit. "After considering the reply and oral submissions of both the banks during the personal hearing, RBI concluded that the charges of non-compliance with directions were substantiated and warranted imposition of monetary penalty," RBI says.
 
In both cases, RBI says the penalties are based on deficiencies in regulatory compliance and are not intended to be pronounced on the validity of any transaction or agreement they entered into with their customer.
 
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