Bassein Catholic Co-operative Bank Ltd

RBI has imposed a monetary penalty of Rs 61.6 lakh on Bassein Catholic Co-operative Bank Ltd. for multiple compliance lapses. The breaches related to fraud reporting, KYC, deposit-account maintenance, and restructuring of advances.

The bank must absorb the monetary penalty and may also face any further supervisory or enforcement action RBI chooses to initiate. The order does not by itself restrict operations, but it underscores continued compliance obligations around fraud reporting, KYC, deposit-account practices, and restructuring decisions.

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

RBI imposed a ₹25 lakh penalty on Bassein Catholic Co-operative Bank Ltd., Vasai, Maharashtra. The bank was found to have granted multiple unsecured loans to a director and his proprietorship firm in breach of BR Act provisions and RBI exposure norms.

The bank must absorb the monetary penalty and comply more strictly with exposure norms and statutory restrictions going forward. The order does not invalidate existing transactions, but it signals supervisory findings that may affect the bank's governance and lending discipline.

• Section 20 read with Section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act

RBI imposed a ₹50 lakh penalty on Bassein Catholic Co-operative Bank Ltd., Vasai for non-compliance with IRAC norms. The bank was found to have failed to classify certain loan accounts as NPAs.

The bank must absorb the monetary penalty; the action does not itself impose a new operating restriction, but it signals RBI’s finding of regulatory non-compliance regarding asset classification and provisioning practices.

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

RBI imposed a ₹49 lakh penalty on Bassein Catholic Co-operative Bank Ltd., Vasai for violating IRAC norms. The bank allegedly upgraded loan accounts without recovering dues and failed to classify restructured accounts as NPAs.

The bank must absorb the monetary penalty and continue complying with RBI’s IRAC norms and related prudential directions. The action does not itself alter customer contracts, but it underscores tighter regulatory scrutiny of the bank’s loan classification and provisioning practices.

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