Jalgaon Peoples Co-operative Bank Ltd., Jalgaon

RBI imposed a ₹50 lakh monetary penalty on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon. The bank was found non-compliant with IRAC norms and rules on deposit accounts and interest payments.

The bank must absorb the monetary penalty and address the compliance deficiencies identified by RBI. The order does not invalidate customer transactions, but it signals continued supervisory scrutiny over the bank’s asset classification, deposit-account practices, and interest-payment processes. Depositors and claimants may be affected indirectly through tighter compliance expectations and corrected operating procedures.

• 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 ₹20 lakh on The Jalgaon People’s Co-operative Bank Ltd., Jalgaon, Maharashtra. The bank was found non-compliant with an RBI direction on placement of deposits with other banks by UCBs.

The bank must absorb the monetary penalty and continue ensuring compliance with RBI’s direction on placement of deposits with other banks. The action has no stated direct impact on customers’ existing transactions, but it signals stricter supervisory scrutiny over the bank’s deposit-placement practices.

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

RBI imposed a ₹25 lakh penalty on Jalgaon Peoples Co-operative Bank Ltd., Jalgaon. The penalty was for non-compliance with IRAC norms and Management of Advances directions.

The bank must absorb the penalty and address the compliance gaps identified by RBI, particularly in IRAC norms and management of advances. The order does not invalidate customer transactions, but it signals supervisory concerns and may lead to closer regulatory scrutiny if deficiencies persist.

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