MUMBAI, India, April 6 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBl) has, by an order dated April 2, 2026, imposed a monetary penalty of ₹1.09 lakh (Rupees One Lakh Nine Thousand only) on Dr. Panjabrao Deshmukh Urban Cooperative Bank Ltd., Amravati, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on 'Classification, Valuation and Operation of Investment Portfolio of Primary (Urban) Co-operative Banks', 'Exposure Norms and Statutory / Other Restrictions - UCBs' and 'National Electronic Funds Transfer (NEFT) System - Rationalisation of customer charges'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A...