The Mehmadabad Urban Peoples Co-operative Bank Ltd., Mehmadabad

RBI imposed a ₹60,000 penalty on Mehmadabad Urban People’s Co-operative Bank Ltd. for non-compliance with CIC membership/data submission and KYC directions.

The bank must absorb the ₹60,000 penalty; the order does not itself impose a business restriction, but it reflects compliance deficiencies under CIC and KYC norms and leaves RBI free to initiate further action if warranted.

• section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949
• section 25 of the Credit Information Companies (Regulation) Act, 2005

RBI imposed a ₹2 lakh penalty on The Mehmadabad Urban Peoples Co-operative Bank Ltd., Mehmadabad. The action was for non-compliance with RBI directions on loans to directors and KYC/AML requirements.

The bank must absorb the monetary penalty; the release does not announce any operational restriction or withdrawal of business permissions. The forward-looking impact is limited to the penalty and the compliance signal regarding lending to directors and KYC/AML controls.

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