Bombay Mercantile Co-operative Bank Ltd., Mumbai

RBI imposed a monetary penalty of Rs 33.30 lakh on Bombay Mercantile Co-operative Bank Ltd., Mumbai. The action was taken for earning income from business not permissible under the Banking Regulation Act, 1949.

The bank must absorb the monetary penalty and address the compliance lapse identified by RBI. The order does not itself invalidate customer transactions, but RBI noted that further action may still be initiated if warranted.

• Section 6(2) 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 ₹63.30 lakh penalty on Bombay Mercantile Co-operative Bank Ltd. for multiple non-compliances with UCB directions.

The bank must absorb the monetary penalty and ensure future compliance with RBI's exposure norms, gold loan restrictions, and rules governing unclaimed deposits and inoperative/dormant accounts. No separate business restriction is imposed by this release, but the finding highlights regulatory compliance obligations going forward.

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

RBI imposed a ₹13 lakh penalty on Bombay Mercantile Co-operative Bank Ltd., Mumbai. The penalty was for delayed transfer of eligible amounts to the Depositor and Education and Awareness Fund (DEAF).

The bank must absorb the monetary penalty and continue complying with statutory DEAF transfer requirements. The order does not pronounce on customer transactions, but it signals regulatory non-compliance and the need for timely transfer of eligible amounts going forward.

• section 26-A read with section 56 of the Banking Regulation Act, 1949
• section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the BR Act

RBI imposed a Rs 50 lakh penalty on Bombay Mercantile Co-operative Bank Ltd., Mumbai for regulatory non-compliance. The violations involved interest-rate directions and unsecured advances.

The bank must absorb the monetary penalty and remain compliant with RBI’s deposit-interest and supervisory directions. The action does not itself restrict operations, but it signals supervisory concern over deposit pricing and lending practices and may invite closer regulatory scrutiny going forward.

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

RBI imposed a monetary penalty of Rs 75 lakh on Bombay Mercantile Co-operative Bank Ltd., Mumbai. The penalty was for violations of RBI's KYC/AML directives.

The bank must bear the financial penalty of Rs 75 lakh. The action does not describe any operational restriction, but it signals regulatory non-compliance and may affect supervisory scrutiny of the bank's AML/KYC controls.

• Section 47A(1) read with Section 46(4) of the Banking Regulation Act., 1949 (As Applicable to Co-operative Societies)

RBI imposed a penalty of Rs 5 lakh on Bombay Mercantile Co-operative Bank Ltd., Mumbai, for breaching group exposure norms. The bank sanctioned loans far above the RBI-prescribed ceiling.

The bank must absorb the penalty and the episode serves as a compliance enforcement action with no stated operational restriction. Forward-looking, the bank remains in operation but is expected to adhere to RBI exposure norms, especially for group lending concentrations.

• Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS)