The Vaidyanath Urban Co-operative Bank Ltd., Beed (Maharashtra)

RBI imposed a ₹1.50 lakh penalty on The Vaidyanath Urban Co-operative Bank Ltd., Beed for violating specific directions issued under the Supervisory Action Framework. The breach involved making a donation contrary to RBI operational instructions.

The bank must absorb the penalty and the finding of non-compliance, but the release does not impose any new business restriction or operating ban. The forward-looking impact is primarily compliance and supervisory, with no stated direct restriction on customers or operations.

• section 36 (1) read with section 56 of the Banking Regulation Act, 1949
• Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Act

RBI imposed a ₹2.50 lakh penalty on The Vaidyanath Urban Co-operative Bank Ltd., Beed, for KYC non-compliance. The bank failed to update customer KYC periodically and to review risk categorization of accounts.

The bank must absorb the monetary penalty; the release does not describe any restriction on business operations or customer services. The action mainly affects the bank’s compliance record and signals RBI’s enforcement focus on KYC governance and account risk reviews.

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