RBI December 2023 actions: licence cancellations

When Action Arrived

Published action records across the covered window, split into RegOversight severity bands. Empty intervals remain visible.

RBI action records by publication interval and severity band
Interval	Total	S0–S1 · lifted / low	S2–S3 · moderate / high	S4–S5 · major / severe
1 Dec	3	0	0	3
2 Dec	0	0	0	0
3 Dec	1	0	0	1
4 Dec	5	4	0	1
5 Dec	0	0	0	0
6 Dec	2	0	0	2
7 Dec	6	4	0	2
8 Dec	7	1	1	5
9 Dec	0	0	0	0
10 Dec	0	0	0	0
11 Dec	1	0	0	1
12 Dec	0	0	0	0
13 Dec	1	0	0	1
14 Dec	7	3	2	2
15 Dec	0	0	0	0
16 Dec	0	0	0	0
17 Dec	0	0	0	0
18 Dec	5	4	1	0
19 Dec	0	0	0	0
20 Dec	0	0	0	0
21 Dec	0	0	0	0
22 Dec	5	3	2	0
23 Dec	0	0	0	0
24 Dec	0	0	0	0
25 Dec	0	0	0	0
26 Dec	0	0	0	0
27 Dec	0	0	0	0
28 Dec	6	6	0	0
29 Dec	2	0	0	2
30 Dec	2	0	0	2
31 Dec	0	0	0	0

What Stood Out

Each finding is grounded in precomputed metrics. Open it to inspect the supporting numbers and the limits of the claim.

Banks accounted for most of the fall in disclosed penalty value

The bank category recorded ₹0 in December 2023 against ₹12.27 crore in November 2023 and accounted for 91.1% of the ₹13.47 crore decline. NBFC penalties were ₹11.0 lakh against ₹90.9 lakh, while co-operative bank penalties were ₹46.0 lakh against ₹86.0 lakh.

The penalty distribution shifted towards smaller disclosed amounts

The median fell from ₹2.2 lakh in November 2023 to ₹1.0 lakh in December 2023, while the maximum fell from ₹5.00 crore to ₹10.5 lakh. The top five actions accounted for 53.5% of the total, down from 85.2%.

Co-operative banks made up a larger share of action records

Co-operative banks accounted for 94.3% of records in December 2023, up from 63.6% in November 2023. Their count rose to 50 from 28, a 30.7 percentage-point shift.

Severe actions increased their share of December records

There were 22 severe actions, or 41.5% of the records, compared with 17 and 38.6% in November 2023. December also had 7 cancellations, against 1 in November 2023, and no supersessions, against 1.

What RBI Did and Where It Landed

Amber bars show the current mix. The fine marker shows the comparable earlier period, so a change is visible rather than merely asserted.

Action mix

Primary recorded action category.

Monetary penalty30 · 56.6%
Previous 32 · 72.7%
Business restriction15 · 28.3%
Previous 10 · 22.7%
Licence cancellation7 · 13.2%
Previous 1 · 2.3%
Action lifted1 · 1.9%

Lifecycle

Fresh actions, extensions and withdrawals.

Fresh action37 · 69.8%
Previous 35 · 79.5%
Extension15 · 28.3%
Previous 9 · 20.5%
Lifted / withdrawn1 · 1.9%

Entity types

Action records by regulated-entity class, not entities affected.

Co-operative bank50 · 94.3%
Previous 28 · 63.6%
NBFC3 · 5.7%
Previous 8 · 18.2%

Why RBI acted

Overlapping themes; one action may carry several reasons.

Reporting & disclosure25 · 47.2%
Previous 23 · 52.3%
Capital & exposure norms15 · 28.3%
Previous 9 · 20.5%
Other14 · 26.4%
Previous 9 · 20.5%
Customer protection13 · 24.5%
Previous 9 · 20.5%
Licensing breach8 · 15.1%
Previous 2 · 4.5%
KYC / AML7 · 13.2%
Previous 6 · 13.6%

Defining Actions

Up to four non-duplicative actions selected for monetary impact, breadth, severity or relief. Quiet periods may show fewer.

RBI imposes monetary penalty on Berar Finance Limited, Nagpur, Maharashtra
Largest disclosed penaltyS3 Elevated
8 Dec 2023₹10.5 lakhmonetary penalty
Berar Finance Limited
RBI imposed a ₹10.5 lakh monetary penalty on Berar Finance Limited for non-compliance with certain provisions of RBI’s KYC Directions, 2016. The company failed to periodically review risk categorisation of accounts and did not use robust software for effective identification and reporting of suspicious transactions.
Read case brief RBI source
RBI cancels the licence of Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd., Ichalkaranji, Kolhapur
Widest orderS5 Severe
4 Dec 2023licence cancellation
Shankarrao Pujari Nutan Nagari Sahakari Bank Limited, Ichalkaranji, Kolhapur
RBI cancelled the licence of Shankarrao Pujari Nutan Nagari Sahakari Bank Limited, Ichalkaranji, Kolhapur, because it lacked adequate capital and earning prospects and did not comply with key licensing requirements under the Banking Regulation Act, 1949.
Read case brief RBI source
Reserve Bank of India cancels the licence of the Musiri Urban Co-operative Bank Ltd., Musiri
Highest severity, single entityS5 Severe
30 Dec 2023licence cancellation
Musiri Urban Co-operative Bank Ltd., Musiri
RBI cancelled the licence of Musiri Urban Co-operative Bank Ltd., Musiri, because it lacked adequate capital and earning prospects and did not comply with licensing requirements under the Banking Regulation Act. RBI also said its continuance was prejudicial to depositors’ interests and public interest.
Read case brief RBI source
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Raigad Sahakari Bank Limited, Mumbai – Withdrawal of Directions
ReliefS0 Lifted
28 Dec 2023action lifted
Raigad Sahakari Bank Limited, Mumbai
RBI withdrew the Section 35A read with Section 56 Directions previously issued to Raigad Sahakari Bank Limited, Mumbai. The directions had earlier been extended from time to time.
Read case brief RBI source

What It Cost

30 actions had a disclosed amount. Totals and distribution shape are kept separate from action volume.

Median: ₹1 L
Largest: ₹10.54 L
Top five: ₹30.54 L
95th percentile: ₹7 L

Change by entity type

Arithmetic attribution of the change in disclosed value. Contributions may exceed 100% or run in the opposite direction.

Entity type	Current	Previous	Contribution
Bank	₹0	₹12.27 cr	91.1%
NBFC	₹11.03 L	₹90.86 L	5.9%
Co-operative bank	₹46.05 L	₹86.05 L	3%

Entity Coverage

Declared: 53
Names extracted: 53
Canonical links: 53
First seen: 7

Entity counts are breadth indicators, not action counts. One bulk order can name hundreds of companies.

Orders Still in Force

Orders: 41
Entities: 41
Expiring next: 14
Duplicate entity rows: 0

Next expiry window: 1 Jan 2024–31 Jan 2024.