The Reserve Bank of India (RBI) has imposed monetary penalties on three Maharashtra-based Urban Cooperative Banks for non-compliance with regulatory provisions.
A maximum penalty of Rs 15.00 lakh has been imposed on Solapur Janata Sahakari Bank Ltd., under an order dated July 7, 2025, for contravention of the provisions of Section 5(ccv)(iii) read with Section 56 of the Banking Regulation Act, 1949.
On July 8, 2025, RBI imposed a penalty of Rs 1.50 lakh on Dr. Babasaheb Ambedkar Urban Co-operative Bank Ltd., Nagpur for non-compliance with RBI’s directions on “Loans and Advances to Directors, Relatives, and Firms/Concerns in which they are Interested – UCBs” as well as specific directions under the Supervisory Action Framework (SAF).
Additionally, a penalty of Rs 50,000 was levied on Mahesh Urban Cooperative Bank Ltd., Parli Vaijnath, for violating RBI directions on “Exposure Norms and Statutory/Other Restrictions – UCBs” and SAF-related compliance.
This penalty was imposed under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
