Apna Sahakari Bank Ltd., Mumbai

RBI imposed a monetary penalty of Rs 79 lakh on Apna Sahakari Bank Ltd., Mumbai for multiple non-compliances with RBI directions. The lapses related to IRAC norms, deposit interest rules, and deposit account maintenance.

The bank must absorb the financial penalty and continue operating, but the order signals regulatory deficiencies that may invite closer supervisory scrutiny. Customers affected by deposit-account handling, interest payments, and penal charges may see continued attention to compliance in these areas, though the release expressly says the penalty is not a pronouncement on the validity of customer transactions or agreements.

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

RBI imposed a monetary penalty of ₹14 lakh on Apna Sahakari Bank Ltd., Mumbai. The action was for non-compliance with RBI directions on IRAC norms.

The bank must absorb the monetary penalty, but the release does not announce any operational restriction, cancellation, or suspension. The action primarily affects Apna Sahakari Bank Ltd., Mumbai, and serves as a compliance warning regarding adherence to IRAC norms going forward.

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