The Kolhapur Urban Co-operative Bank Limited, Kolhapur, Maharashtra

RBI imposed a monetary penalty of Rs 2 lakh on The Kolhapur Urban Co-operative Bank Limited, Kolhapur, Maharashtra. The penalty was for non-compliance with RBI directions on loans and advances to directors and related parties.

The bank must absorb the monetary penalty and address the compliance weaknesses identified by RBI, particularly around related-party lending controls. The order does not itself announce a restriction on operations, but it signals supervisory concern and may lead to further regulatory action if lapses persist.

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

RBI imposed a ₹1 lakh penalty on The Kolhapur Urban Co-operative Bank Ltd., Kolhapur for non-compliance with directions on maintenance of deposit accounts. The bank had levied fixed penal charges for minimum-balance shortfalls and failed to provide the required notice to customers.

The bank must absorb the penalty and ensure its savings-account minimum-balance penal charge practices and customer notices comply with RBI directions going forward. Depositors are affected because the bank’s charging and notice practices must align with RBI-prescribed norms.

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