The Urban Co-operative Bank Limited, Rourkela

RBI imposed a penalty of Rs 6 lakh on The Urban Co-operative Bank Limited, Rourkela for non-compliance with KYC and deposit-account maintenance directions.

The bank must absorb the penalty and address compliance gaps in customer due diligence, identification, and deposit-account handling. The order does not invalidate customer transactions, but it underscores tighter regulatory scrutiny of the bank’s KYC and account-maintenance practices.

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

RBI imposed a monetary penalty of Rs 10,000 on The Urban Co-operative Bank Ltd., Rourkela. The penalty was for non-compliance with RBI directions on the Depositor Education and Awareness Fund.

The bank must bear the monetary penalty, and the action serves as an enforcement finding of non-compliance with RBI directions. There is no stated business restriction or customer-facing operational curtailment in this release, but the bank is expected to ensure future compliance with the Depositor Education and Awareness Fund requirements.

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