The Ahmedabad Mercantile Co-operative Bank Limited

RBI imposed a monetary penalty of Rs 23,000 on The Ahmedabad Mercantile Co-operative Bank Limited, Ahmedabad. The bank was found non-compliant for not submitting certain borrower credit information to CICs.

The bank must absorb the penalty and address the compliance lapse in reporting borrower credit information to CICs. The order does not itself impose a new operational restriction, but it signals possible further regulatory action if non-compliance continues. Depositors and borrowers are not directly restricted by this release, though the bank must strengthen reporting controls going forward.

• Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005

RBI imposed a monetary penalty of Rs 62.50 lakh on The Ahmedabad Mercantile Co-operative Bank Ltd., Ahmedabad. The penalty was for non-compliance with RBI directions on interest rates on deposits.

The bank must absorb the financial penalty and ensure future compliance with RBI’s deposit interest-rate directions. The action does not indicate any operational restriction on customers, but it signals heightened regulatory scrutiny over the bank’s compliance framework.

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

RBI imposed a penalty of Rs 1 lakh on The Ahmedabad Mercantile Co-operative Bank Limited, Ahmedabad. The action followed violations related to trust formation, membership rules, and improper display of the bank’s name.

The bank must bear the monetary penalty, and the finding remains on record as a regulatory enforcement action. There is no stated operating restriction in this release, so the forward-looking impact is primarily financial and compliance-related rather than a limitation on banking operations.

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