COOPERATIVEBANKS
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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Moneylife Digital Team 19 December 2023
Reserve Bank of India (RBI) has imposed monetary penalties on five cooperative banks for violating various rules and regulations prescribed by RBI. Of these, three banks are from Maharashtra, while others belong to West Bengal and Gujarat. RBI levied a penalty of Rs3 lakh, the highest among five banks, on Maharashtra-based Manmandir Cooperative Bank Ltd.

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Moneylife Digital Team 15 December 2023
In the wake of the Reserve Bank of India (RBI)’s recent cancellation of Kapol Cooperative Bank's license, a few customers have faced uncertainty regarding their loan repayments, the status of their accounts and the possible impact on credit scores. Responding to queries from Moneylife Foundation, RBI has now provided crucial insights into the situation, addressing concerns and outlining the way forward for customers of Kapol Cooperative Bank.

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Moneylife Digital Team 08 December 2023
The Reserve Bank of India (RBI) has cancelled the licences of over 15 cooperative banks since January 2023 alone. The pace at which cooperative bank licenses have been cancelled has shot up since dual regulation of cooperative banks was cancelled, and they were put under the exclusive regulatory oversight of RBI after the disastrous collapse of Punjab and Maharashtra Cooperative (PMC) Bank.

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Moneylife Digital Team 08 December 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Sitapur, Uttar Pradesh-based Urban Cooperative Bank Ltd, due to the lender's inadequate capital and poor earnings prospects.

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Moneylife Digital Team 08 December 2023
Reserve Bank of India (RBI) has imposed Rs3.10 lakh penalties on four cooperative banks for violating various laws prescribed by RBI. Of these, three belong to Maharashtra and the other to Telangana. The banks penalised are Patan Cooperative Bank Ltd, Prathamik Shikshak Sahakari Bank Ltd, Rajarshi Shahu Sahakari Bank Ltd from Maharashtra, and District Cooperative Central Bank Ltd from Telangana.

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Moneylife Digital Team 05 December 2023
Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks from Maharashtra for violation of different laws prescribed by the regulator. RBI has levied a fine of Rs4 lakh, the highest among the banks, on Jijamata Mahila Sahakari Bank Ltd.

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Moneylife Digital Team 01 December 2023
Reserve Bank of India (RBI) has imposed a penalty of Rs6 lakh on five cooperative banks, citing the violation of different laws prescribed by the banking regulator. Of these, three banks are from Gujarat, while others belong to Bihar and Odisha.

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Moneylife Digital Team 24 November 2023
Reserve Bank of India (RBI) has imposed Rs6.25 lakh penalties on five cooperative banks from Gujarat, citing the violation of different laws prescribed by the regulator. RBI has levied a fine of Rs2.5 lakh, the highest among the banks, on Shri Mahila Sewa Sahakari Bank Ltd. Other banks penalised by RBI are Vejalpur Nagarik Sahkari Bank Ltd, Khambhat Nagarik Sahakari Bank Ltd, Porbandar Vibhagiya Nagarik Sahkari Bank Ltd and Sarvodaya Nagarik Sahakari Bank Ltd

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