RBI penalty

The Reserve Bank of India (RBI) has announced a monetary penalty of ₹8.30 lakh on Dombivli Nagari Sahakari Bank Limited for non-compliance with specific regulatory directions. The order, issued on January 21, 2025, highlights lapses in adherence to the RBI’s guidelines on ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’. This action is in accordance with the authority granted under Section 47A(1)(c), along with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.