The Nasik Merchant’s Co-operative Bank Ltd

RBI imposed a ₹15 lakh penalty on The Nasik Merchant’s Co-operative Bank Ltd., Nashik for sanctioning director-related loans in breach of RBI directions. The action follows supervisory findings from the bank’s statutory inspection.

The bank must absorb the financial penalty and address the compliance lapse identified by RBI. The order does not by itself invalidate customer transactions, but it signals continued supervisory scrutiny and the possibility of further regulatory action for similar breaches.

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

RBI imposed a Rs 48.30 lakh penalty on The Nasik Merchant’s Co-operative Bank Ltd., Nashik. The action was for lapses in fraud reporting and for charging minimum-balance penalties in deposit accounts without proper compliance.

The bank must absorb the financial penalty and address compliance gaps in fraud reporting and deposit-account charge practices. The action does not itself impose a new operational restriction, but it signals continued regulatory scrutiny of the bank’s customer-account and reporting controls. Customers affected by minimum-balance charges are indirectly implicated by the underlying compliance lapses.

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

RBI imposed a ₹50 lakh penalty on The Nasik Merchant's Co-operative Bank Ltd., Nashik. The bank was found non-compliant with directions on inter-bank deposits and interest payments.

The bank must absorb the monetary penalty and address the compliance failures identified by RBI. There is no stated suspension or restriction in this release, but the findings highlight obligations around deposit placement, deposit interest payments, and adherence to RBI directions going forward.

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

RBI imposed a ₹5 lakh penalty on The Nasik Merchants Co-operative Bank Ltd., Nashik. The action was for breaches of KYC/AML/CFT and PMLA-related directions.

The bank must absorb the ₹5 lakh penalty; the release does not describe any additional operational restriction. The action is a formal regulatory censure and may affect compliance expectations, but it does not by itself impose a business ban or licensing consequence.

• Section 47A (1)(c)
• Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)

RBI imposed a Rs 5 lakh penalty on The Nasik Merchants’ Co-operative Bank Ltd., Nasik, Maharashtra. The action was for persistent violation of banking law and RBI instructions relating to a trust set up with bank directors as trustees.

The bank must absorb the monetary penalty and comply with RBI instructions and banking-law restrictions going forward. There is no stated operational ban or license action, but the finding may affect compliance expectations and supervisory scrutiny.

• Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 47A(1)(a) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• section 6(1)(j) of the Banking Regulation Act 1949 (AACS)