Budge Budge Nangi Cooperative Bank Ltd

RBI imposed a monetary penalty of Rs 10,000 on Budge Budge Nangi Cooperative Bank Ltd., Budge Budge, West Bengal. The penalty was for non-compliance with RBI's exposure norm directions for urban cooperative banks.

The bank must absorb the monetary penalty; the release does not describe any additional operational restriction or suspension. The action is backward-looking, relating to past compliance failures, and does not itself impose a new cap or ban on current operations beyond the penalty.

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

RBI imposed a ₹1 lakh monetary penalty on Budge Budge Nangi Co-operative Bank Ltd. for regulatory violations related to exposure norms and Section 20 compliance.

The bank must absorb the monetary penalty and remain compliant with Section 20 of the Banking Regulation Act and RBI exposure-norm requirements going forward. No operational restriction is described in this release beyond the penalty itself; the action primarily affects the bank and its regulatory compliance standing.

• Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 20 of B. R. Act, 1949 (AACS)
• Master Circular DCBR.CO.BPD(PCB) No.13/13.05.000/2015-16 on Exposure Norms and Statutory/Other Restrictions – Urban Co-operative Banks dated July 01, 2015