Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, district Vadodara (Gujarat)

RBI imposed a ₹50,000 penalty on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, for failing to maintain the required CRR. The action was taken under the Banking Regulation Act after RBI found a contravention of statutory reserve directions.

The bank must absorb the monetary penalty and remain compliant with RBI’s statutory reserve requirements going forward. No additional restriction on operations is stated in the release, but the violation signals continued supervisory scrutiny over reserve maintenance compliance.

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

RBI has imposed a penalty of ₹5 lakh on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, Gujarat. The bank was penalized for violating operational instructions and RBI norms on loans to directors and related concerns.

The bank must absorb the ₹5 lakh penalty; the release does not impose a further restriction on operations. The enforcement action serves as a compliance warning for the bank’s lending and related-party practices, but no direct operational cap or suspension is described.

• Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949
• Section 36 (1) of the B R Act, 1949 (AACS)