RBI imposes monetary penalty on Ravi Commercial Urban Co-operative Bank Ltd., Nagpur (Maharashtra)
Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹1 lakh on Ravi Commercial Urban Co-operative Bank Ltd., Nagpur by order dated September 16, 2022. RBI said the bank contravened directions applicable to urban co-operative banks on exposure norms and on interest rate on deposits, after a risk assessment found non-compliance with the prudential inter-bank gross exposure limit and failure to pay post-maturity interest on unclaimed term deposits during repayment.
RBI imposed a monetary penalty under Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949, after a risk assessment and subsequent show-cause process found the bank had failed to comply with RBI directions applicable to urban co-operative banks. The specific lapses cited were non-compliance with the prudential inter-bank gross exposure limit and failure to pay interest on term deposits that remained unclaimed after maturity for the period after maturity while repaying those deposits.
Severity Assessment
This is a monetary penalty of ₹1 lakh, which falls within the lowest monetary band and has no additional structural restriction beyond the fine.
The bank must absorb the monetary penalty and address the compliance gaps identified by RBI. The order does not invalidate customer transactions, but it signals regulatory scrutiny over exposure-limit adherence and proper interest payment on matured, unclaimed deposits.
Published as Ravi Commercial Urban Co-operative Bank Ltd., Nagpur
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
© 2026 RegOversight by OddVector