Renuka Nagarik Sahakari Bank Maryadit, Ambikapur (Chhattisgarh)

RBI imposed a monetary penalty under Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949, after finding contraventions/non-compliance with directions issued to Urban Co-operative Banks on Exposure Norms & Statutory/Other Restrictions and Know Your Customer (KYC). The Risk Assessment Report for the bank as of March 31, 2021 found that it had not complied with prudential inter-bank (gross) exposure limits, had not carried out periodic review of risk categorization of customers, and did not have a robust system to detect suspicious transactions. RBI issued a show-cause notice, considered the bank's replies and oral submissions, and concluded the charges were substantiated.

The bank must absorb the monetary penalty and strengthen compliance systems around exposure norms, customer risk categorization reviews, and suspicious transaction monitoring. The action is financial in nature and does not by itself impose a business restriction, but it signals continued regulatory scrutiny of the bank's compliance controls.