The Nilambur Co-operative Urban Bank Limited, Kerala

RBI imposed a ₹50,000 penalty on The Nilambur Co-operative Urban Bank Limited, Kerala. The bank was found to have violated RBI directions on interest rates for deposits.

The bank must bear the monetary penalty and remain compliant with RBI’s directions on deposit interest rates going forward. The order does not, by itself, invalidate customer transactions, but it signals continued supervisory scrutiny and the possibility of further RBI action if similar non-compliance recurs.

• 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 50,000 on The Nilambur Co-operative Urban Bank Ltd., Kerala. The action followed non-compliance with specific RBI directions under the Supervisory Action Framework.

The bank must absorb the monetary penalty and remain compliant with the SAF directions cited by RBI. The action does not itself impose a new operational ban, but it signals continued supervisory scrutiny and the possibility of further regulatory action if non-compliance persists.

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