The Muslim Co-operative Bank Limited, Pune, Maharashtra

RBI imposed a ₹3 lakh penalty on The Muslim Co-operative Bank Limited, Pune. The action was for non-compliance with RBI directions on maintenance of deposit accounts.

The bank must absorb the monetary penalty and address the compliance gaps identified by RBI. The action does not itself impose a business restriction, but it signals supervisory concerns and leaves open the possibility of further RBI action if deficiencies persist.

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

RBI imposed a ₹2 lakh penalty on The Muslim Co-operative Bank Limited, Pune for violating KYC directions. The bank had not done periodic KYC updation of accounts.

The bank must absorb the monetary penalty and continue complying with RBI’s KYC requirements, including periodic updation of customer KYC. The action does not indicate a restriction on operations, but it underscores compliance expectations for the bank’s customer accounts and ongoing regulatory oversight.

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

RBI imposed a Rs 1 lakh penalty on The Muslim Co-operative Bank Ltd., Pune, for breaching donation limits under RBI instructions. The violations involved donations exceeding the permitted 1% of prior-year profits on five occasions.

The bank must absorb the monetary penalty; the order does not impose an operational ban or other forward-looking restriction. No depositor or borrower-facing restriction is described in this release beyond the financial penalty.

• Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS)