The Karad Urban Co-operative Bank Ltd

RBI imposed a monetary penalty of ₹13.30 lakh on Karad Urban Co-operative Bank Ltd. Karad. The action was for non-compliance with RBI directions on interest rate on deposits, including opening savings accounts for certain ineligible entities.

The bank must absorb the penalty and remain exposed to any further RBI action based on the same or related compliance issues. The release does not impose an operational restriction, but it signals continued supervisory scrutiny over deposit-related compliance and account-opening practices.

• 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 The Karad Urban Co-operative Bank Ltd. for contravention of certain RBI directions under the Supervisory Action Framework.

The bank must absorb the ₹10 lakh penalty, and the action signals supervisory non-compliance under RBI's Supervisory Action Framework. There is no stated operational restriction in this release, but the bank remains subject to RBI compliance expectations and related oversight.

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

RBI imposed a Rs 5 lakh penalty on Karad Urban Co-operative Bank Ltd., Karad. The bank had shifted a branch location and changed the municipal ward without prior RBI approval.

The bank must absorb the monetary penalty and ensure future branch shifts or similar changes are not carried out without prior RBI permission. The action does not describe a continuing restriction on operations, but it signals heightened compliance expectations for the bank's branch relocation processes.

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