Mapusa Urban Co-operative Bank of Goa Ltd., Mapusa, Goa

RBI has imposed a ₹5 lakh penalty on The Mapusa Urban Co-operative Bank of Goa Ltd, Mapusa, Goa. The penalty is for breaches relating to term-deposit interest payments, borrower exposure limits, and unsecured advances.

The bank must absorb the financial penalty, and the action serves as a formal compliance censure. There is no stated operational restriction in this release, but the bank remains on notice to comply with RBI norms on deposit interest, exposure limits, and unsecured lending going forward.

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

RBI issued Section 35A Directions against The Mapusa Urban Co-operative Bank of Goa Ltd., restricting core banking activities. Depositors were allowed limited withdrawals of up to ₹1,000 per account subject to conditions.

The bank must operate under RBI-imposed restrictions and cannot expand liabilities or lending without prior written approval. Depositors face withdrawal limits of ₹1,000 per account subject to conditions, while the bank's management must comply with the operational curbs until RBI modifies the Directions. The restrictions take effect from the close of business on July 24, 2015.

• Section 35A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949

RBI imposed a Rs. 5 lakh monetary penalty on Mapusa Urban Co-operative Bank of Goa Ltd., Mapusa, Goa. The action was for breaching directives on unsecured advances and lending operations.

The bank must absorb the monetary penalty and continue complying with RBI's lending-related directives, especially limits on unsecured advances. No operational restriction is described beyond the penalty itself.

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