Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat

RBI imposed a monetary penalty of ₹1 lakh on Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat. The penalty was for non-compliance with PSL-related directions and failure to deposit the required amount into the MSE Refinance Fund.

The bank must absorb the penalty and continue operating, but the order signals RBI’s continuing supervisory concern over PSL compliance. No direct restriction on customer operations is stated, though RBI may initiate further action separately.

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

RBI imposed a ₹5 lakh penalty on Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat. The penalty was for non-compliance with RBI directions on inter-bank deposits and interest on overdue deposits.

The bank must absorb the monetary penalty and ensure future compliance with RBI directions on inter-bank deposit placement, exposure limits, and interest payments on overdue deposits. No operational restriction was imposed, but the findings may affect regulatory scrutiny going forward.

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