Case Brief
The Reserve Bank of India imposed a monetary penalty on The Uma Co-operative Bank Ltd., Vadodara, Gujarat by order dated August 08, 2025. RBI said the penalty was for non-compliance with directions on Inspection & Audit Systems in Primary (Urban) Co-operative Banks, after supervisory findings and correspondence showed that the bank failed to conduct Internal Audit from April 01, 2022 to March 31, 2024. The action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Vadodara, Gujarat
- Order Date