National Urban Co-operative Bank Ltd., Bahraich, Uttar Pradesh

RBI imposed a ₹2 lakh penalty on National Urban Co-operative Bank Ltd., Bahraich. The action was for continuous non-submission of statutory returns.

The bank must bear the penalty and the matter serves as an enforcement action for failure to file statutory returns. There is no operational restriction described in the release, but the bank is expected to comply with applicable reporting obligations going forward.

• Section 47A(1)(c)
• Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 27 of the Act ibid

RBI imposed a penalty of Rs 2.5 lakh on National Urban Co-operative Bank Ltd., Bahraich, Uttar Pradesh. The bank was found to have violated several RBI guidelines, including KYC and prudential norms.

The bank must absorb the monetary penalty and the regulatory finding of non-compliance. The release does not impose additional operational restrictions, but it records RBI’s adverse determination for the cited compliance lapses.

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