Patan: The Reserve Bank of India (RBI) has, by an order dated September 30, 2025, imposed a monetary penalty of ₹3 lakh on The Ranuj Nagrik Sahakari Bank Limited, in Patan, for non-compliance with certain directions issued by RBI on ‘Management of Advances – UCBs’ and ‘Customer Protection – Limiting Liability of Customers of Co-operative Banks in Unauthorized Electronic Banking Transactions’. The statutory inspection of the bank was conducted by the RBI with reference to its finan...Read More

Vadodara: The Reserve Bank of India (RBI), through an order dated September 22, 2025, imposed a monetary penalty of ₹2 lakh on Makarpura Industrial Estate Co-operative Bank Ltd for non-compliance with directions on Know Your Customer (KYC) and the Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) read with the Comprehensive Cyber Security Framework for UCBs – A Graded Approach. A statutory inspection of the bank was carried out by RBI with reference to its financia...Read More

Ahmedabad: The Reserve Bank of India (RBI), by an order dated September 17, 2025, has imposed a monetary penalty of ₹23,000 on The Ahmedabad Mercantile Co-operative Bank Limited for non-compliance with certain RBI directions on “Membership of Credit Information Companies by Co-operative Banks.” The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and re...Read More

Surat: The Reserve Bank of India (RBI), by an order dated August 28, 2025, has imposed a monetary penalty of ₹18.30 lakh (Rupees Eighteen Lakh Thirty Thousand only) on The Surat People’s Co-operative Bank Limited, Surat, for non-compliance with RBI directions on “Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) - UCBs.” The penalty has been imposed under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulat...Read More

Gandhinagar: Gujarat has retained its position as the leading state in attracting bank funds for projects for the second consecutive year. In FY24-25, the state drew ₹2.78 lakh crore, or 21.4% of the total ₹3.7 lakh crore sanctioned nationwide, according to RBI’s August bulletin. Gujarat also accounted for 152 of the 907 projects funded during the year. The state’s share of bank project funding rose sharply from 14.7% in FY23-24. Maharashtra ranked second with 111 projects, securing 15....Read More

New Delhi: The Reserve Bank of India (RBI) on Friday announced that it has imposed monetary penalties on four cooperative banks in Gujarat, amounting to a total of ₹9.5 lakh. Among the penalised banks, two are located in Vadodara, while one each is in Patan and Mehsana districts. In the first case, the apex bank imposed a monetary penalty of ₹2.50 lakh on Shree Bharat Co-operative Bank Ltd., Vadodara, Gujarat, for non-compliance with certain directions issued by the RBI on Inspection & ...Read More

Mehsana: Days after ICICI Bank hiked the minimum monthly average balance (MAB) for new savings account holders to ₹50,000, Reserve Bank of India Governor Sanjay Malhotra clarified that such decisions fall outside the RBI’s regulatory purview during his first visit to Gujarat as the chief of the apex bank. “The Reserve Bank of India has left it to the banks to decide the minimum balance amount. Some banks have a minimum balance of ₹10,000, while some have a minimum balance of ₹2,000. T...Read More

Vadodara: The Reserve Bank of India (RBI) has recently announced that, by an order dated June 30, 2025, it has imposed a monetary penalty of ₹4.00 lakh on Shree Chhani Nagarik Sahakari Bank Limited, Vadodara, Gujarat, for non-compliance with certain directions issued by the RBI on ‘Know Your Customer (KYC)’ and other regulatory requirements. This penalty has been imposed in exercise of powers conferred on the RBI under the provisions of Section 47A(1)(c), read with Sections 46(4)(i) and 5...Read More

Ahmedabad: The Reserve Bank of India (RBI), vide order April 15, 2025, has cancelled the licence of “Colour Merchants Co-operative Bank Ltd., Ahmedabad. Consequently, the bank ceases to carry on banking business with effect from the close of business on April 16, 2025. The Registrar of Cooperative Societies, Gujarat, has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as i. The bank does...Read More

Vadodara: The Reserve Bank of India (RBI) on Monday announced that, by an order dated February 19, 2025, it has imposed a monetary penalty of ₹25,000 on Mahila Sahakari Bank Ltd. in Vadodara for non-compliance with certain directions issued by the RBI on ‘Know Your Customer (KYC)’. The statutory inspection of the bank was conducted by RBI with reference to its financial position as of March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related cor...Read More