Sardarganj Mercantile Co-operative Bank Ltd

RBI imposed a ₹1 lakh penalty on Sardargunj Mercantile Co-operative Bank Limited, Patan, Gujarat. The action was for accepting certain interest-free deposits in accounts other than current account, in breach of RBI directions.

The bank must pay the monetary penalty and address the compliance lapse identified by RBI. The order does not itself impose a forward-looking operational restriction, but it signals supervisory concern and leaves RBI free to initiate any further action if warranted.

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

RBI imposed a ₹2 lakh penalty on Sardargunj Mercantile Co-operative Bank Limited, Patan, Gujarat. The bank was found non-compliant with RBI directions on placing deposits with other banks, including breach of the prudential inter-bank counterparty exposure limit.

The bank must absorb the penalty and ensure future compliance with RBI's inter-bank exposure and deposit-placement norms. The action does not indicate a restriction on operations, but it signals heightened regulatory scrutiny of the bank's treasury and counterparty-exposure practices.

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

RBI imposed a ₹3 lakh penalty on Sardarganj Mercantile Co-operative Bank Ltd., Anand, Gujarat. The penalty was for CRR shortfall and breach of SAF directions on capital expenditure.

The bank must absorb the ₹3 lakh penalty and remain compliant with RBI’s statutory reserve and SAF requirements going forward. The order does not impose a new operational ban, but it signals continued supervisory scrutiny over the bank’s reserve maintenance and expenditure controls.

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