The Thane District Central Co-operative Bank Limited

RBI has imposed a monetary penalty of Rs 2.10 lakh on Thane District Central Co-operative Bank Ltd., Thane, Maharashtra. The penalty was for non-compliance with KYC directions, specifically failure to periodically update customer KYC.

The bank must absorb the penalty and address the KYC compliance gap identified by RBI. The order does not itself impose a business restriction, but it signals continued supervisory scrutiny and the possibility of further action if deficiencies persist. Customers are indirectly affected to the extent the bank must improve KYC processes and controls.

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

RBI imposed a monetary penalty of ₹2 lakh on The Thane District Central Co-operative Bank Limited, Thane. The action was for sanctioning a loan to one of its directors in violation of the Banking Regulation Act.

The bank must absorb the financial penalty and continue operating, but the order signals regulatory concern over insider lending and compliance controls. No operational restriction is imposed on depositors or borrowers by this release.

• Section 20 read with Section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the BR Act