The RBI has issued monetary penalty on 3 Co-operative Banks – The Nabapalli Cooperative Bank Limited, West Bengal, The Modern Co-operative Bank Limited, Chalisgaon, Maharashtra, The Lalgudi Co-operative Urban Bank Ltd., Tamil Nadu.
The Reserve Bank of India (RBI) has, by an order dated June 22, 2026, imposed a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on The Nabapalli Cooperative Bank Limited, West Bengal as the bank had failed to upload the KYC records of customers onto the Central KYC Records Registry (CKYCR) within the prescribed timeline.
The Reserve Bank of India (RBI) has, by an order dated June 23, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Modern Co-operative Bank Limited, Chalisgaon, Maharashtra as the bank had breached prescribed regulatory limit for single borrower exposure and failed to upload the KYC records of customers onto Central KYC Records Registry (CKYCR) within the prescribed timeline.
The Reserve Bank of India (RBI) has, by an order dated June 22, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Lalgudi Co-operative Urban Bank Ltd., Tamil Nadu as despite its CRAR being less than the regulatory minimum, the bank had allowed the refund of share capital to its members and sanctioned certain loans without complying with the share linking to borrowings norms.
