Mandya City Co-operative Bank Ltd., Mandya, Karnataka

RBI has imposed a monetary penalty of Rs 50,000 on Mandya City Co-operative Bank Ltd., Mandya, Karnataka. The action was for failing to upload certain customers' KYC records to CKYCR on time.

The bank must absorb the monetary penalty and continue ensuring timely upload of customer KYC records to CKYCR in line with RBI directions. The order does not invalidate customer transactions, but it signals continued supervisory scrutiny and the possibility of further RBI action if non-compliance persists.

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

RBI imposed a ₹50,000 penalty on Mandya City Co-operative Bank Ltd., Mandya. The bank had sanctioned loans to the relative of one of its sitting directors, violating RBI directives/guidelines.

The bank must bear the monetary penalty of ₹50,000. The action is a compliance sanction and does not itself impose a continuing business restriction, but it signals enforcement risk for related-party lending and governance lapses.

• Section 47A
• Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)