The Gandhidham Mercantile Co-operative Bank Ltd, Dist. Kutch (Gujarat)

RBI imposed a penalty of Rs 2 lakh on The Gandhidham Mercantile Co-operative Bank Ltd, Dist. Kutch (Gujarat). The action was for violating operational instructions issued under Section 36(1) of the Banking Regulation Act.

The bank must absorb the financial penalty and any associated compliance attention from RBI. The release does not describe a continuing operational restriction, but it signals regulatory non-compliance that may invite closer supervisory scrutiny.

• Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 36(1) of B.R. Act, 1949 (AACS)

RBI imposed a monetary penalty of Rs 5 lakh on The Gandhidham Mercantile Cooperative Bank Ltd., Dist. Kutch (Gujarat). The penalty followed findings of multiple regulatory violations.

The bank must absorb the monetary penalty and may face continued supervisory scrutiny over its lending practices, KYC/AML controls, disclosure obligations, and account operations. The order does not indicate a wider operational restriction, but it underscores compliance obligations for the bank going forward.

• Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies)