Alibag Co-operative Urban Bank Limited, Raigad

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 an inspection (financial position as of March 31, 2019) found that the bank had failed to comply with RBI directions on Exposure Norms and Statutory/Other Restrictions for Urban Co-operative Banks. The specific contraventions noted were non-adherence to the prudential inter-bank gross exposure limit and the prudential inter-bank single counterparty exposure limit. RBI considered the bank's written reply, oral submissions, and additional submissions before concluding that the charge was substantiated and penalty was warranted.

The bank must bear the monetary penalty; the press release does not indicate any additional operational restrictions or remedial deadlines. The action is regulatory and compliance-focused, and does not by itself pronounce on customer transactions or agreements.