Ambarnath Jaihind Co-operative Bank Ltd

RBI imposed a ₹3 lakh penalty on Ambarnath Jai Hind Co-operative Bank Limited, Ambarnath, Maharashtra. The action was for non-compliance with RBI directions on maintenance of deposit accounts.

The bank must absorb the penalty and remain compliant with RBI directions on deposit account maintenance, especially rules on minimum balance charges and notices. The order does not itself restrict operations, but RBI has reserved the right to take further action if needed. Customers affected include savings-account and inoperative-account holders who were subjected to the disputed charges.

• section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949

RBI imposed a monetary penalty of Rs 2 lakh on Ambarnath Jaihind Co-operative Bank Ltd., Ambarnath, Maharashtra. The penalty was for non-compliance with RBI’s KYC directions.

The bank must absorb the penalty and ensure compliance controls for KYC are strengthened, especially periodic review of customer risk categories. The action does not itself impose an operational restriction, but it signals continued regulatory scrutiny of the bank’s compliance framework.

• section 47 A (1) (c) read with sections 46 (4) (i) and 56 of Banking Regulation Act, 1949 (BR Act)