Pragati Mahila Nagarik Sahakari Bank Maryadit, Bhilai

RBI imposed a ₹1 lakh penalty on Pragati Mahila Nagrik Sahakari Bank Maryadit, Bhilai, for regulatory non-compliance. The issues related to exposure norms and KYC requirements.

The bank must bear the monetary penalty and remain subject to RBI supervision. The order does not itself impose an operational restriction, but the compliance failures may expose the bank to further regulatory action if similar breaches continue.

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

RBI imposed a penalty of Rs 1 lakh on Pragati Mahila Nagarik Sahakari Bank Maryadit, Bhilai. The action was for non-compliance with RBI exposure norms after the bank sanctioned unsecured advances beyond the permitted limit.

The bank must absorb the financial penalty and remain compliant with RBI exposure norms going forward. No separate operational ban or restriction is described in this release, but the RBI action signals continued regulatory scrutiny of the bank's lending practices.

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

RBI imposed a ₹2 lakh penalty on Pragati Mahila Nagrik Sahakari Bank Maryadit, Bhilai for breaches of RBI directions. The bank failed on director-related lending norms and periodic KYC updation.

The bank must absorb the monetary penalty and strengthen compliance with RBI directions on related-party lending and KYC updation. The action does not itself invalidate customer transactions, but it signals regulatory censure and the need for tighter internal controls going forward.

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