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

RBI imposed a monetary penalty of Rs 1 lakh on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad. The penalty was for failure to maintain the required CRR.

The bank must absorb the monetary penalty and ensure future compliance with RBI’s CRR/SLR requirements. There is no stated operating restriction beyond the penalty, but the finding signals ongoing regulatory scrutiny of reserve maintenance obligations.

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

RBI imposed a ₹5 lakh penalty on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad. The penalty was for permitting a cash withdrawal after banking hours without board approval and for not reporting an STR to FIU-IND.

The bank must absorb the monetary penalty and ensure future compliance with RBI instructions on board approvals and STR reporting. The action does not impose any ongoing business restriction, but it signals heightened regulatory scrutiny over transaction reporting and internal governance controls.

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

RBI imposed a monetary penalty of Rs 1 lakh on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad. The action was for non-compliance with STR filing directions under AML guidelines and for continuing irregularities noted in inspection.

The bank must absorb the monetary penalty of Rs 1 lakh; the release does not describe any operational restriction or licensing action. The forward-looking impact is limited to the financial penalty and the compliance signal regarding AML/STR reporting and rectification of inspection irregularities.

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