The Siddhi Co-operative Bank Ltd., Ahmedabad

RBI imposed a Rs. 5 lakh penalty on The Siddhi Co-operative Bank Ltd., Ahmedabad. The penalty was for non-disclosure of a levied penalty in the balance sheet and delayed reporting of STRs.

The bank must absorb the monetary penalty and address compliance gaps around statutory disclosure and STR reporting. The action has no stated operational restriction beyond the fine, but it signals expected tightening of internal controls and timely regulatory reporting.

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

RBI imposed a Rs. 5 lakh penalty on The Siddhi Co-operative Bank Ltd., Ahmedabad. The action was for KYC/AML violations and improper compliance with prior inspection observations.

The bank must absorb the penalty and address the compliance deficiencies identified by RBI, particularly around KYC/AML controls and follow-up on inspection observations. The action does not indicate any direct operating restriction, but it signals heightened regulatory scrutiny of the bank's compliance processes.

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