The Surat People’s Co-operative Bank Limited, Surat

RBI imposed a monetary penalty of ₹13.30 lakh on Surat People’s Co-operative Bank Ltd., Surat. The penalty was for non-compliance with RBI directions on Board of Directors for UCBs.

The bank must absorb the monetary penalty; the release does not mention any operational restriction or licence impact. The order is without prejudice to any other action RBI may initiate, so further supervisory or enforcement action remains possible.

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

RBI has imposed a ₹18.30 lakh penalty on The Surat People’s Co-operative Bank Limited, Surat. The bank was found to have delayed reporting certain borrower credit information to CRILC.

The bank must absorb the monetary penalty and tighten its regulatory reporting controls, especially around CRILC submissions for borrower exposures. No direct restriction on business operations is described, but the finding signals supervisory scrutiny and potential for further action if compliance gaps persist.

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

RBI imposed a Rs 61.60 lakh penalty on The Surat People’s Co-operative Bank Limited, Surat. The bank was found non-compliant with several RBI directions relating to asset classification, director-related lending, deposit accounts and customer service.

The bank must absorb the monetary penalty and address the compliance gaps identified by RBI. The order does not invalidate transactions or agreements, but it signals continued supervisory scrutiny and potential for further regulatory action if deficiencies persist; customers affected include borrowers, directors-related accounts, depositors with inoperative accounts, and customers charged SMS fees.

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