The Utkal Cooperative Bank Limited, Bhubaneswar

RBI imposed a monetary penalty of Rs 2.53 lakh on The Utkal Cooperative Bank Limited, Bhubaneswar. The penalty was for multiple compliance lapses involving SAF, CIC reporting, and KYC requirements.

The bank must absorb the monetary penalty and remain exposed to any further supervisory or enforcement action RBI may choose to take. No operational restriction is imposed by this release, but the findings indicate continuing compliance expectations around capital expenditure approvals, CIC reporting, CKYCR uploads, and periodic risk review of accounts.

• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949
• Section 25 read with Section 23 of the Credit Information Companies (Regulation) Act, 2005

RBI imposed a Rs 15 lakh penalty on The Utkal Cooperative Bank Ltd., Bhubaneswar. The bank was found non-compliant with exposure norms and specific SAF directions on deposit interest rates.

The bank must absorb the penalty and ensure future compliance with RBI's exposure norms and SAF directions. The order does not impose a new operating restriction, but it signals closer regulatory scrutiny of the bank's inter-bank exposures and deposit pricing practices.

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