Bharat Co-operative Bank (Mumbai) Limited

RBI imposed a ₹15 lakh penalty on Bharat Co-operative Bank (Mumbai) Limited for non-compliance with directions on interest rate on deposits. The bank had not paid interest on certain eligible term deposits withdrawn prematurely.

The bank must absorb the penalty and may also face further RBI action, as the release states the monetary penalty is without prejudice to any other action that may be initiated. For customers, the finding highlights non-compliance in how interest was handled on prematurely withdrawn eligible term deposits.

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

RBI imposed a Rs 3.75 lakh penalty on Bharat Co-operative Bank (Mumbai) Limited for non-compliance with directions on reporting unusual cyber security incidents. The bank allegedly failed to report unplanned downtime that disrupted customer services.

The bank must absorb the monetary penalty and continue complying with RBI's cyber incident reporting directions. The action does not itself impose an operating restriction, but it signals heightened supervisory scrutiny over the bank's incident reporting controls and IT resilience.

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

RBI imposed a ₹15 lakh penalty on Bharat Co-operative Bank (Mumbai) Limited for non-compliance with RBI directions on income recognition, asset classification, and provisioning. The bank failed to classify certain borrower loan accounts as NPAs.

The bank must absorb the financial penalty and address the compliance gap in asset classification and NPA recognition. The action does not itself restrict operations, but it signals supervisory concern and leaves RBI free to initiate any other action based on the same or related findings.

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

RBI imposed a ₹50 lakh penalty on Bharat Co-operative Bank (Mumbai) Limited for non-compliance with IRAC norms. The bank failed to classify certain accounts as NPAs as required.

The bank must absorb the monetary penalty and continue operating in compliance with RBI’s IRAC norms. The order does not state any customer-facing operational restriction, but it reinforces ongoing obligations on asset classification and provisioning.

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

RBI imposed a monetary penalty of ₹60 lakh on Bharat Co-operative Bank (Mumbai) Limited. The penalty was for non-compliance with IRAC norms and frauds classification/reporting directions.

The bank must bear the ₹60 lakh penalty and address the compliance deficiencies identified by RBI. The action does not invalidate any customer transaction, but it signals continued regulatory scrutiny over the bank’s IRAC and fraud-reporting controls.

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