Nagar Sahkari Bank Ltd., Etawah

RBI placed Nagar Sahakari Bank Ltd., Etawah under fresh Section 35A directions. The bank faces broad operating restrictions and a ₹10,000 withdrawal cap for depositors.

The bank must operate under tight RBI-imposed restrictions for six months, limiting lending, deposit-taking, payments, asset disposals, and other liabilities unless RBI approves otherwise. Depositors are affected by a ₹10,000 withdrawal cap per account, though eligible depositors may also access DICGC insurance claims up to ₹5 lakh subject to verification and willingness submission. The bank’s management must comply with the specified conditions and wait for RBI review before restrictions can be modified.

• Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• DICGC Act, 1961

RBI has imposed a penalty of Rs 3 lakh on Nagar Sahakari Bank Limited, Etawah, Uttar Pradesh. The action follows multiple compliance breaches relating to director loans, NPAs, exposure norms, and KYC reporting.

The bank must absorb the Rs 3 lakh penalty and address the compliance gaps identified by RBI. The order does not by itself restrict operations, but the findings may expose the bank to further supervisory or enforcement action if similar breaches continue. Customers are not directly affected by a business restriction in this release, but the bank is expected to strengthen lending, asset classification, exposure monitoring, and KYC controls.

• Section 47A(1)(c)
• Sections 46(4)(i)
• Section 56 of the Banking Regulation Act

RBI imposed a ₹4 lakh penalty on Nagar Sahkari Bank Limited, Etawah for non-compliance with IRAC directions for UCBs. The bank was found to have failed to classify certain loan accounts as non-performing as required.

The bank must absorb the monetary penalty and address the compliance gaps identified by RBI. The release does not impose any new operational restriction, but it signals continued supervisory scrutiny and possible further RBI action if similar non-compliance persists.

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

RBI imposed a monetary penalty of ₹1 lakh on Nagar Sahkari Bank Limited, Etawah. The penalty was for non-adherence to IRAC norms and related RBI directions.

The bank must absorb the financial penalty of ₹1 lakh; the release does not impose a new operating restriction or cancellation. The action serves as a regulatory censure and signals the need for stronger compliance with IRAC and related RBI directions, but it does not directly change customer-facing banking operations.

• Section 35A read with section 56 of the Banking Regulation Act, 1949
• Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949

RBI imposed a ₹20,000 penalty on Nagar Sahkari Bank Ltd., Etawah. The penalty was for violations of KYC/AML instructions and Section 26A of the Banking Regulation Act, 1949 (AACS).

The bank must absorb the monetary penalty; no broader restriction on operations is described in the release. The action serves as a compliance enforcement measure and may prompt tighter KYC/AML controls and adherence to statutory requirements.

• Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 26A of Banking Regulation Act, 1949 (AACS)