Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar

RBI imposed a ₹2 lakh penalty on Porbandar Vibhagiya Nagarik Sahkari Bank Ltd., Porbandar, Gujarat. The action was for non-compliance with RBI directions on placement of deposits with other banks.

The bank must absorb the monetary penalty, but the release does not describe any business restriction or license action. The underlying compliance lapse relates to deposit placement and inter-bank exposure limits, which RBI found after inspection.

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

RBI imposed a Rs 1 lakh penalty on Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar. The penalty was for violating KYC and AML instructions.

The bank must bear the financial penalty, and the action signals regulatory non-compliance on KYC/AML matters. No operational restriction is stated in the release, but the finding may affect supervisory scrutiny going forward.

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