1. The Bharat Co-operative Bank Limited, Bengaluru, Karnataka Key Details Root Cause Analysis (RCA) The bank’s statutory inspection, based on its financial position as of March 31, 2024, revealed several deficiencies in its adherence to the RBI’s directions under the SAF. The sustained charges against the bank included: Preventive Controls To prevent similar violations, the […]
Key Details The Reserve Bank of India (RBI) has fined Ayodhya Finlease Limited for ₹1 lakh (Rupees One Lakh). The penalty was imposed by an order dated August 14, 2025. The fine was issued for the company’s non-compliance with certain provisions of the ‘Master Direction Non-Banking Financial Company Non-Systemically Important Non-Deposit taking Company (Reserve Bank)
Key Details The Andaman Cooperative Bank scam involves the fraudulent sanctioning of loans amounting to over ₹500 crore through more than 100 loan accounts. The scam came to light when a police complaint was filed by the Deputy Registrar of Cooperative Societies. The Enforcement Directorate (ED) and the Criminal Investigation Department (CID) have both launched
The Katihar District Central Co-operative Bank Limited, Bihar Key Details Root Cause Analysis (RCA) The bank had sanctioned loans to its director. It also failed to submit credit information of its customers to two Credit Information Companies. Preventive Controls Lesson Learned Compliance with regulations regarding lending to directors and submitting credit information to CICs is
Key Details Root Cause Analysis (RCA) The RBI’s penalty stemmed from a Statutory Inspection for Supervisory Evaluation (ISE 2024), which reviewed the bank’s financial position as of March 31, 2024. This inspection identified two specific areas of non-compliance. The root causes can be attributed to systemic failures within the bank’s processes: Preventive Controls To prevent
1. District Central Co-operative Bank Ltd., Bilaspur (Chhattisgarh) Key Details Root Cause Analysis (RCA) Preventive Controls Lessons Learnt RBI Press Release 2. The Kasaragod Co-operative Town Bank Ltd., Kerala Key Details Root Cause Analysis (RCA) Preventive Controls Lessons Learnt RBI Press Release 3. Altum Credo Home Finance Pvt. Ltd., Pune (Maharashtra) Key Details Root Cause
1. Sarvodaya Commercial Cooperative Bank Ltd., Mehsana, Gujarat Penalty: ₹5 lakh Key Details: RCA: Preventive Controls: Lessons Learnt: RBI Press Release 2. Sardargunj Mercantile Co-operative Bank Ltd., Patan, Gujarat Penalty: ₹1 lakh Key Details: RCA: Preventive Controls: Lessons Learnt: RBI Press Release 3. Maharashtra Gramin Bank, Aurangabad Penalty: ₹4.20 lakh Key Details: RCA: Preventive Controls:
