RBI imposes monetary penalty on Mogaveera Co-operative Bank Ltd., Mumbai
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Official government notification — a formal executive order that operationalises policy decisions. Carries legal weight and specifies rules, dates, exemptions, or procedural requirements.
Summary
The Reserve Bank of India (RBI) has, by an order dated April 29, 2026, imposed a monetary penalty of ₹20,000/- (Rupees Twenty Thousand only) on Mogaveera Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with certain directions issued by RBI on ‘Prudential Norms on Capital Adequacy – Primary (Urban) Co-operative Banks (UCBs)’. 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)(
Key Facts
TypeNotification
SourceReserve Bank of India
PublishedMonday, 4 May 2026
Affected Population~850 million internet users, 75,000+ startups
Key Numbers
Rs 15,000 crore for Digital India initiatives
UPI: 14 billion monthly transactions
850 million+ Aadhaar-linked mobiles
GDP: $3.9 trillion (2025 est.)
Key Authorities
Ministry of Electronics & ITTRAICERT-InMinistry of FinanceRBI
Key Stakeholders
Internet UsersTech CompaniesStartupsTaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
Amendment History
1 change recorded for this policy.
DescriptionTuesday, 5 May 2026via rbi
The Reserve Bank of India (RBI) has, by an order dated April 29, 2026, imposed a monetary penalty of ₹20,000/- (Rupees Twenty Thousand only) on Mogaveera Co-operative Bank Ltd., Mumbai (the bank) for non-compliance with certain directions issued by RBI on ‘Prudential Norms on Capital Adequacy – Primary (Urban) Co-operative Banks (UCBs)’. 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)(
The Reserve Bank of India (RBl) has, by an order dated April 29, 2026, imposed a monetary penalty of ₹2 lakh (Rupees Two Lakh only) on Pandharpur Urban Co-operative Bank Ltd., Pandharpur, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on ‘Asset classification and treatment of accounts as Non-Performing Assets’. 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)
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