SBPP Co-operative Bank Limited, Killa Pardi, Gujarat

RBI imposed a monetary penalty of Rs 13 lakh on SBPP Co-operative Bank Limited, Killa Pardi, Gujarat. The bank was penalized for non-compliance with RBI directions on interest rate on deposits.

The bank must absorb the monetary penalty and ensure future compliance with RBI directions on deposit interest rates. No operational restriction is stated, but the finding may affect regulatory scrutiny of its deposit-account opening and compliance controls.

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

RBI imposed a ₹48 lakh penalty on SBPP Co-operative Bank Limited, Killa Pardi, Gujarat. The bank was found non-compliant with RBI directions on deposit interest and KYC/UCIC requirements.

The bank must absorb the monetary penalty and address the compliance gaps identified by RBI, particularly around deposit-interest handling and KYC controls. The order does not indicate a business restriction, but it signals heightened regulatory scrutiny and the need to strengthen internal compliance processes.

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