RBI’s Action Report – 25th March 2026 | The Bapunagar Mahila Co-operative Bank Ltd. – Amalgamation

1. Key Details of the Regulatory Action Amalgamating Entity: The Bapunagar Mahila Co-operative Bank Ltd., Ahmedabad, Gujarat (A community/women-focused urban co-operative bank). Acquiring Entity: Shri Vinayak Sahakari Bank Ltd., Ahmedabad, Gujarat. Statutory Framework: The scheme of amalgamation was sanctioned by the RBI under the provisions of sub-section (4) of Section 44A, read with Section 56 […]

Amalgamation, RBI Action

RBI’s Action Report – 25th March 2026 | Shree Mahalaxmi Urban Co-operative Credit Bank Ltd. – Extension of Period

1. Executive Summary The Reserve Bank of India (RBI) has issued a notification regarding the extension of regulatory directions imposed on Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., operating out of Gokak, Karnataka. The RBI has determined that continuing these operational restrictions is necessary in the public interest. 2. Key Details of the Action Applicable

Extension of Period, RBI Action

RBI’s Action Report – 23rd March 2026 | Irinjalakuda Town Co-operative Bank Ltd. – Appointment of a new Administrator

1. Key Details & Timeline The Reserve Bank of India (RBI) has executed a series of phased regulatory interventions against Irinjalakuda Town Co-operative Bank Ltd. to protect depositor interests and address severe governance deficits. July 30, 2025: RBI imposed All Inclusive Directions (AID) under Section 35A read with Section 56 of the Banking Regulation Act,

Appointment of Administrator, RBI Action

RBI Penalty Report – 24th March 2026

RBI Penalty Compliance Report 1. The Pali District Central Co-operative Bank Ltd., Rajasthan Key Details Penalty Amount: ₹50,000 Date of Order: March 17, 2026 Inspecting Authority: NABARD (Position as of March 31, 2025) Violation: Non-compliance with KYC directions; failed to implement a system for periodic review of risk categorisation of accounts (required at least once

RBI Penalty

RBI’s Action Report – 20th March 2026 | Lalbaug Co-operative Bank Ltd. – Amalgamation

1. Key Details Action: Approval of Voluntary Amalgamation Amalgamating Bank: Lalbaug Co-operative Bank Ltd. (Vadodara, Gujarat) Amalgamated Bank: Akhand Anand Co-operative Bank Ltd. (Surat, Gujarat) Effective Date: March 23, 2026 Statutory Provision: Section 44A (4) read with Section 56 of the Banking Regulation Act, 1949 Operational Status: All branches of Lalbaug Co-op Bank will operate

Amalgamation, RBI Action

RBI Penalty Report – 16th March 2026 | Cashfree Payments India Private Limited

1. Key Incident Details Entity Name: Cashfree Payments India Private Limited Penalty Amount: ₹3.10 Lakh (Rupees Three Lakh Ten Thousand only) Date of Order: March 09, 2026 (Press Release: March 16, 2026) Inspection Period: April 2024 to June 2025 Regulatory Framework: Guidelines on Regulation of Payment Aggregators (PAs) and Payment Gateways (PGs) Core Violation: Making

RBI Penalty

RBI Penalty Report – 13th March 2026 | Manappuram Finance Limited

1. Key Details Regulated Entity: Manappuram Finance Limited Penalty Amount: ₹2.70 Lakh (Rupees Two Lakh Seventy Thousand only) Statutory Inspection Period: Financial position as on March 31, 2025 Regulatory Authority: Reserve Bank of India (RBI) Applicable Act/Provision: Section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934 Nature of Violation: Non-compliance

RBI Penalty

RBI Penalty Report – 12th March 2026

Executive Summary On March 12, 2026, the Reserve Bank of India (RBI) published press releases detailing monetary penalties imposed on two co-operative banks due to non-compliance with regulatory directives. Following statutory inspections evaluating the banks’ financial positions as of March 31, 2025, enforcement actions were initiated against The Pallikonda Co-operative Urban Bank Limited (Tamil Nadu)

RBI Penalty

RBI’s Action Report – 12th March 2026

Executive Summary The Reserve Bank of India (RBI) has exercised its powers under Section 35 A read with Section 56 of the Banking Regulation Act, 1949, to impose strict operational restrictions on three distinct cooperative banks across India. These directives come in response to the banks’ deteriorating financial liquidity and the management’s failure to address

RBI Action
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