Swarna Bharathi Sahakara Bank Niyamitha, Bengaluru

RBI imposed a monetary penalty of Rs 50,000 on Swarna Bharathi Sahakara Bank Niyamitha, Bangalore, Karnataka. The bank had failed to submit its FY 2023-24 accounts, balance-sheet, and auditor’s report to RBI on time.

The bank must bear the penalty and ensure timely statutory submission of its accounts, balance-sheet, and auditor’s report going forward. The order does not itself pronounce on customer transactions, but RBI may initiate other action separately if warranted.

• Section 31 read with Section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949

RBI imposed a ₹10 lakh penalty on Swarna Bharathi Sahakara Bank Niyamitha, Bengaluru. The action was for non-compliance with RBI directions on collection of third party account payee cheques.

The bank must bear the ₹10 lakh penalty and ensure future compliance with RBI's directions on third-party account payee cheques. The order does not itself alter customer transactions, but it signals heightened supervisory scrutiny over the bank's cheque handling practices.

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