MUMBAI, India, Oct. 3 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBl) has, by an order dated September 30, 2025, imposed a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on The Ranuj Nagrik Sahakari Bank Limited, Dist. Patan, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on 'Management of Advances - UCBs' and 'Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorized Electronic Banking Transactions'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
The statutory inspection of the ban...