RBI imposes monetary penalty on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana, Gujarat
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Summary
The Reserve Bank of India (RBl) has, by an order dated May 29, 2026, imposed a monetary penalty of ₹20,000/- (Rupees Twenty thousand only) on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana, Gujarat (the bank), for non-compliance with certain directions issued by RBI on ‘Inoperative Accounts / Unclaimed Deposits in Banks - Revised Instructions’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections