The National Cooperative Bank Ltd., Mumbai

RBI imposed a monetary penalty of Rs 2 lakh on The National Co-operative Bank Ltd., Mumbai for KYC non-compliance. The bank was found to have allotted multiple UCICs to customers.

The bank must absorb the monetary penalty; the order does not impose an operating restriction or suspension. The action may also leave open the possibility of any other future RBI action on the same or related deficiencies.

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

RBI imposed a monetary penalty of Rs 1 lakh on The National Co-operative Bank Ltd., Mumbai. The action was for non-compliance with RBI directions on maintenance of deposit accounts, specifically the failure to conduct annual review of inoperative accounts.

The bank must absorb the penalty and ensure future compliance with RBI’s deposit-account maintenance directions, including annual review of inoperative accounts. No broader operational restriction is stated, but the finding signals heightened regulatory scrutiny for the bank’s deposit-account processes and customer account handling.

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

RBI imposed a ₹1 lakh penalty on The National Cooperative Bank Ltd., Mumbai. The bank was penalized for violating directions on maintenance of deposit accounts.

The bank must absorb the monetary penalty and address its deposit-account charge practices to ensure compliance with RBI directions. The action does not itself impose an operating restriction, but it signals continued supervisory scrutiny over how the bank levies charges on savings-account customers.

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

RBI imposed a ₹2 lakh penalty on National Co-operative Bank Ltd., Mumbai for non-compliance with KYC directions. The bank had failed to set up periodic review of risk categorization of accounts.

The bank must absorb the monetary penalty and continue complying with RBI’s KYC requirements, including periodic review of account risk categorization. The action does not itself impose an operational restriction, but it signals continued supervisory scrutiny of the bank’s compliance framework.

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