Pune People’s Co-operative Bank Limited, Pune

RBI imposed a ₹25 lakh penalty on Pune People’s Co-operative Bank Ltd., Pune, for failing to comply with PSL-related directions. The bank did not deposit the required amount into the MSE Refinance Fund despite a cautionary letter.

The bank must absorb the financial penalty and continue complying with RBI’s PSL-related directions, including any obligation to deposit the specified amount toward the MSE Refinance Fund if still applicable under the underlying direction. The action does not by itself alter customer transactions, but it signals continued regulatory scrutiny and potential for further RBI action if non-compliance persists.

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

RBI imposed a ₹1 lakh penalty on Pune People’s Co-operative Bank Limited, Pune. The action was for contravention of RBI directions on interest on deposits.

The bank must absorb the monetary penalty and address the compliance lapse identified by RBI. The action does not indicate any new business restriction, but it signals heightened regulatory scrutiny over depositor-interest compliance, especially in accounts of deceased depositors and related claimants.

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

RBI imposed a Rs 2 lakh penalty on Pune People’s Co-operative Bank Limited, Pune. The penalty was for non-compliance with RBI’s KYC directions.

The bank must absorb the monetary penalty and continue complying with RBI's KYC directions. The order notes the penalty is based on regulatory deficiencies and does not pronounce on the validity of any customer transaction or agreement.

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