Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur

RBI imposed a penalty of Rs 8 lakh on Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur, Maharashtra. The action was for non-compliance with RBI directions on advances to builders/contractors.

The bank must absorb the monetary penalty and remain subject to RBI supervision. The order does not describe any immediate operational restriction on customers, but RBI notes that the penalty is without prejudice to any other action that may be initiated against the bank.

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

RBI has imposed a ₹4 lakh penalty on Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur for KYC non-compliance. The bank was found lacking periodic KYC review, customer KYC updation, and adequate suspicious transaction monitoring.

The bank must absorb the financial penalty of ₹4 lakh and continue complying with RBI's KYC directions. The action does not impose a new operating restriction, but it signals ongoing supervisory scrutiny over the bank’s KYC and suspicious-transaction monitoring controls.

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

RBI imposed a ₹10.50 lakh penalty on Shri Kanyaka Nagari Sahakari Bank Limited, Chandrapur. The bank was found non-compliant with supervisory and operational RBI directions.

The bank must absorb the penalty and address the compliance gaps identified by RBI. The order does not itself restrict operations further, but it signals supervisory concerns around lending practices, ATM permissions, fraud reporting, and related-party lending, which may attract closer regulatory scrutiny going forward.

• Section 36(1) read with section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949

RBI penalised Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur with a ₹1 lakh monetary penalty for violating RBI Operational Instructions.

The bank must absorb the monetary penalty and remain compliant with RBI's Operational Instructions going forward. The action does not indicate a restriction on operations, but it signals regulatory scrutiny and the need to strengthen internal compliance to avoid further enforcement.

• Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)