The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat)

RBI imposed a ₹10 lakh monetary penalty on The Co-operative Bank of Rajkot Ltd. for multiple regulatory contraventions. The lapses related to unauthorised transaction reporting, proper use of the bank’s registered name, and fraud reporting.

The bank must absorb the monetary penalty and address the compliance gaps identified by RBI, including customer complaint/reporting channels, alert-response functionality, branding/name usage, and fraud reporting timelines. The action does not itself restrict operations, but it signals required remedial compliance for future supervisory scrutiny.

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

RBI imposed a monetary penalty of Rs 2 lakh on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat). The penalty was for failing to transfer long-unclaimed balances to the Depositor Education and Awareness Fund.

The bank must pay the monetary penalty and remain compliant with the Depositor Education and Awareness Fund requirements, including transferring eligible long-unclaimed balances. The release does not indicate any broader operating restriction, but it reinforces RBI compliance obligations for the bank.

• sub-section (2) of section 26A of the Banking Regulation Act, 1949
• paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014
• Section 47 A (1) (c)

+1 more in the case brief

RBI imposed a ₹4 lakh penalty on The Co-operative Bank of Rajkot Ltd. for violating directions on loans and advances to directors and related interests.

The bank must absorb the monetary penalty and ensure future compliance with RBI’s connected-lending directions. The action does not, by itself, impose a business restriction, but it signals heightened compliance expectations around loans to directors and related parties.

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