The Patdi Nagrik Sahakari Bank Ltd., Patdi, Dist. Surendranagar

RBI imposed a penalty of Rs 1 lakh on Patdi Nagrik Sahakari Bank, Patdi, Surendranagar. The action was for disclosure lapses, non-adherence to RBI operational instructions, and incorrect CTR filings.

The bank must bear the monetary penalty and the order serves as an adverse compliance finding. No operational restriction is described in this release, but the bank remains responsible for maintaining compliance with RBI instructions, financial reporting requirements, and correct CTR reporting.

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

RBI imposed a Rs 1 lakh penalty on Patdi Nagrik Sahakari Bank, Gujarat. The action was for KYC/AML lapses, non-filing of CTR/STR, and incomplete rectification of earlier inspection irregularities.

The bank must absorb the financial penalty and address the compliance gaps identified by RBI. The forward-looking impact is primarily reputational and compliance-related, with continued expectations to strengthen KYC/AML controls, reporting to FIU-IND, and rectification processes.

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