Makarpura Industrial Estate Co-operative Bank Ltd

RBI imposed a monetary penalty of Rs 2 lakh on Makarpura Industrial Estate Co-operative Bank Ltd., Vadodara, Gujarat. The penalty was for lapses in KYC compliance and cyber security controls.

The bank must absorb the monetary penalty and address the underlying compliance gaps in KYC monitoring and cyber security controls. The order does not itself restrict operations, but RBI indicated that further action may still be initiated if warranted.

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

RBI imposed a ₹2 lakh penalty on Makarpura Industrial Estate Co-operative Bank Ltd., Vadodara. The action followed findings of non-compliance with depositor-fund transfer requirements and lending norms involving a director-linked guarantee.

The bank must absorb the monetary penalty and address the compliance lapses identified by RBI. The decision does not invalidate any transaction or agreement, but it signals heightened supervisory scrutiny over depositor-fund transfer compliance and related-party lending controls.

• Section 26A (2) of the Banking Regulation Act, 1949
• Section 47 A (1) (c) read with Sections 46 (4) (i) and 56 of the BR Act