The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat)

RBI imposed a Rs 1 lakh penalty on The Surat People's Co-operative Bank Ltd., Surat. The action was for admitting co-operative societies as members and extending unsecured advances beyond the prescribed ceiling.

The bank must absorb the monetary penalty; no business restriction or suspension is stated. The finding may also reinforce compliance expectations around membership eligibility and unsecured lending limits going forward.

• 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 Surat People's Co-operative Bank, Surat, for violating directions on director-related loan accounts.

The bank must absorb the monetary penalty and continue operating without any stated new business restriction. The action reflects RBI's compliance finding on lending to director-related accounts, with no explicit forward-looking operational curbs mentioned in the release.

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