The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad, Gujarat

RBI imposed a ₹5 lakh penalty on The Viramgam Mercantile Co-operative Bank Ltd., Gujarat. The action was for non-compliance with directions on director-related lending, inter-bank exposure limits, and SAF-related deposit-rate directions.

The bank must absorb the penalty and ensure future compliance with RBI directions on related-party lending, inter-bank exposure limits, and SAF-linked deposit pricing. The action does not state any operational restriction on customers, but it signals heightened supervisory scrutiny and compliance expectations going forward.

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

RBI imposed a penalty of Rs 1 lakh on The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad. The action was for non-filing of CTR/STR reports to FIU-IND and persistence of irregularities noted in a prior inspection.

The bank must absorb the financial penalty and address the reporting and compliance lapses identified by RBI. The action does not describe a restriction on operations, but it signals continued regulatory scrutiny over AML/reporting compliance and prior inspection irregularities.

• Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS)