Uma Co-operative Bank Ltd., Vadodara, Gujarat

RBI imposed a monetary penalty of Rs 1 lakh on The Uma Co-operative Bank Ltd., Vadodara, Gujarat. The action followed a finding that the bank failed to conduct internal audit for the specified period.

The bank must absorb the monetary penalty and address the audit-control deficiency identified by RBI. The release also makes clear that the penalty is without prejudice to any other action RBI may initiate, so further supervisory or enforcement measures remain possible.

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

RBI imposed a ₹7 lakh penalty on Uma Co-operative Bank Ltd., Vadodara, Gujarat. The penalty was for breaching RBI exposure limits under directions on placement of deposits with other banks.

The bank must absorb the financial penalty and ensure future compliance with RBI’s inter-bank exposure limits for placement of deposits with other banks. The action does not itself restrain current operations, but it signals heightened supervisory scrutiny over its treasury and exposure management practices.

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