Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad, Gujarat

RBI has imposed a ₹4.50 lakh penalty on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad, for non-compliance with RBI directions on deposits with other banks and CRR maintenance.

The bank must absorb the monetary penalty and ensure future compliance with RBI directions on inter-bank placements, exposure limits, and CRR maintenance. The action does not itself impose a business restriction, but it signals regulatory scrutiny and the need for tighter internal controls and compliance monitoring.

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

RBI imposed a Rs 2 lakh penalty on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad. The action followed violations of RBI/BR Act norms on loans and advances to directors, relatives, and related concerns.

The bank must absorb the penalty and remain compliant with RBI and Banking Regulation Act restrictions on related-party lending. The action has no stated operational ban, but it signals continued supervisory scrutiny over lending governance and connected-party exposures.

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