RBI imposes monetary penalty on The Ranuj Nagrik Sahakari Bank Ltd., Dist. Patan, Gujarat

Case Brief

By an order dated September 30, 2025, RBI imposed a monetary penalty of ₹3 lakh on The Ranuj Nagrik Sahakari Bank Limited, Dist. Patan, Gujarat. The bank was found to have failed to comply with RBI directions on management of advances and on customer protection relating to unauthorized electronic banking transactions, including lapses in ensuring end-use of funds for certain loans and in enabling customers to instantly reply to SMS alerts to report objections to such transactions. The penalty was levied under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, following supervisory inspection and show-cause proceedings.