RBI imposes monetary penalty on The Pusad Urban Cooperative Bank Limited, Pusad, Maharashtra

India, May 6 -- RBI Imposes Rs 7.5 lakh penalty on Pusad Urban Cooperative Bank for regulatory violations

The Reserve Bank of India (RBI), through an order dated May 2, 2025, has levied a monetary penalty of ?7.50 lakh on The Pusad Urban Cooperative Bank Limited, Pusad, Maharashtra, for breaching multiple regulatory guidelines. The action pertains to non-compliance with RBI's directives related to 'Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs', 'Co-operative Banks – Interest Rates on Deposits', and specific instructions under the 'Supervisory Action Framework (SAF)'.

This penalty was imposed under the powers granted to RBI by Section 47A(1)(c), read with Sections 46(4)(i) and 56 of th...