The Sutex Co-operative Bank Ltd., Surat (Gujarat)

RBI imposed a monetary penalty of Rs 3 lakh on The Sutex Co-operative Bank Ltd., Surat (Gujarat). The penalty was for non-compliance with RBI directions on loans and advances to directors and related parties.

The bank must absorb the penalty and continue to comply with RBI directions on related-party lending and director-linked guarantees. The action has no stated operational restriction on deposits, lending, or business continuity, but it signals supervisory concerns over governance and lending controls.

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

RBI imposed a monetary penalty of ₹2 lakh on The Sutex Co-operative Bank Ltd., Surat. The action was for violations of KYC and AML directives/guidelines.

The bank is required to absorb the financial penalty; the release does not mention any ongoing operational restriction or suspension. The action is forward-looking only in the sense of the completed penalty and regulatory record, with no stated direct impact on depositors or customers beyond compliance scrutiny.

• Section 47A (1)(b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)