• India CSR Awards 2025
  • India CSR Leadership Summit
  • Guest Posts
Saturday, October 25, 2025
India CSR
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
India CSR
No Result
View All Result
India CSR Awards
ADVERTISEMENT
Home News

RBI imposes Rs 13.30 lakh monetary penalty on SVC Co-operative Bank Ltd

The RBI has imposed a Rs 13.30 lakh penalty on SVC Co-operative Bank for imposing unwarranted annual maintenance charges on ATM cards within Basic Savings Bank Deposit Accounts.

India CSR by India CSR
October 25, 2023
in News
Reading Time: 2 mins read
RBI imposes Rs 13.30 lakh monetary penalty on SVC Co-operative Bank Ltd
Share Share Share Share
WhatsApp icon
WhatsApp — Join Us
Instant updates & community
Google News icon
Google News — Follow Us
Get our articles in Google News feed
  • RBI imposes a hefty Rs 13.30 lakh penalty on SVC Co-operative Bank for violating banking regulations related to annual maintenance charges on ATM cards in Basic Savings Bank Deposit Accounts.
  • The penalty, a result of SVC Co-operative Bank’s non-compliance with RBI directives, highlights the central bank’s commitment to upholding banking sector integrity and consumer protection.

The Reserve Bank of India (RBI) took a decisive step, casting a shadow on SVC Co-operative Bank. The central bank wielded its regulatory hammer, imposing a substantial monetary penalty of Rs 13.30 lakh on the bank, unleashing ripples in the financial sector.

Violation and Penalty

The crux of the matter revolved around SVC Co-operative Bank’s imposition of annual maintenance charges for ATM cards in ‘Basic Savings Bank Deposit Accounts.’ The RBI, in a press release, affirmed that this action was a breach of established banking norms. Consequently, the bank was served with a notice, prompting them to defend their actions and justify why a penalty should not be levied for non-compliance with the RBI’s directives.

RBI’s Decision

Following due process, the RBI meticulously examined the bank’s response to the notice and weighed the arguments presented during a personal hearing. After careful consideration, the apex financial institution reached an unequivocal decision. They determined that the charges of non-compliance with the RBI’s directives were well-founded, warranting the imposition of the monetary penalty on SVC Co-operative Bank.

This stern measure underscores the RBI’s unwavering commitment to uphold the integrity of the banking sector and protect the interests of consumers. SVC Co-operative Bank’s ordeal serves as a stark reminder to financial institutions regarding the gravity of adhering to banking regulations and the potential consequences of veering off course.

In summary, the RBI has imposed a Rs 13.30 lakh penalty on SVC Co-operative Bank for imposing unwarranted annual maintenance charges on ATM cards within Basic Savings Bank Deposit Accounts. The penalty underscores the RBI’s dedication to maintaining the financial sector’s integrity and ensuring that banks adhere to established regulations. This decision serves as a cautionary tale to other financial institutions.

CSR Leadership Summit
ADVERTISEMENT
India CSR Awards
ADVERTISEMENT
ESG Professional Network
ADVERTISEMENT
India CSR Image 1 India CSR Image 2
Tags: Reserve Bank of India (RBI)SVC Co-operative Bank

CSR, Sustainability, and ESG success stories
India CSR

India CSR

India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

Related Posts

This initiative is aimed to instil the importance of safety and responsibility in young minds, inspiring them to become conscious and aware citizens of tomorrow.
News

CSR: TVS Motor Promotes Road Safety with Helmet Drive in Shimla Schools

21 hours ago
Hindustan Zinc | हिंदुस्तान जिंक ने दुनिया की सबसे गहरी मैराथन के लिए, बिकमिंगX के साथ की पार्टनरशिप
News

Hindustan Zinc and BecomingX Organize Marathon 1,120m Underground

21 hours ago
Hindustan Unilever (HUL) Mergers CSR and ESG Committees to Strengthen Sustainability Governance
News

Hindustan Unilever (HUL) Mergers CSR and ESG Committees to Strengthen Sustainability Governance

22 hours ago
ITAT Mumbai Quashes ₹60 Lakh ‘Unexplained Income’ Charge Against Art Promoter Geetha Mehra
News

ITAT Mumbai Quashes ₹60 Lakh ‘Unexplained Income’ Charge Against Art Promoter Geetha Mehra

2 days ago
Central Bureau of Investigation (CBI)
News

CBI Recovers ₹2.62 Crore Cash, Seizes Multiple Properties From NHIDCL Official in Guwahati Bribery Case

7 days ago
AISECT Sets Goal to Empower 10 Million Youth in AI by 2030
News

AISECT Sets Goal to Empower 10 Million Youth in AI by 2030

7 days ago
Load More
16th CSR Leadership Summit 2025
ADVERTISEMENT
India CSR Awards
ADVERTISEMENT

LATEST NEWS

United Nations Day. October 24. History, Origin, Purpose, Significance, Core Themes, Key Actions & Developments

Empowering Women in the Biogas Industry: A Catalyst for Sustainability and Equality

World Polio Day – October 24: History, Origin, Purpose, Significance, Pillars and Actions

International Day of Climate Action – October 24: History, Origin, Significance, Pillars and Activities

Why Real Estate Firms Treat Corporate Social Responsibility (CSR) as Non-Negotiable  

O.P. Jindal School Students Shine at State-Level Kala Utsav-2025

Ad 1 Ad 2 Ad 3
ADVERTISEMENT
ESG Professional Network
ADVERTISEMENT

TOP NEWS

PM Modi at NDTV World Summit 2025: 12 Speech Highlights Every Business Leader Must Know

₹55.92 Lakh Penalty on Pace Digitek for CSR Non-Compliance

CSR: ICICI Bank Pledges ₹625 Crore for New Cancer Care Building at Tata Memorial Centre, Navi Mumbai

Jindal Foundation observes Seva Diwas to mark Shallu Jindal’s Birthday

ITAT Mumbai Quashes ₹60 Lakh ‘Unexplained Income’ Charge Against Art Promoter Geetha Mehra

Emirates NBD to Acquire Majority Stake in RBL Bank in Historic $3 Billion (~Rs. 26,850 Cr) FDI Deal

Load More
STEM Learning STEM Learning STEM Learning
ADVERTISEMENT

Interviews

Mumbai Schools to Benefit from Digital Learning Ecosystem
Interviews

Satish Jha: Bridging Education and Technology Through Ashraya’s Human-Centered Innovation

by India CSR
October 18, 2025

An exclusive conversation on education, technology, and human-centered reform with Ashraya’s founder, Satish Jha.

Read moreDetails
Smita Jatia Chairperson RMHC-India. Image: India CSR

Smita Jatia Interview: Inside Ronald McDonald House India’s Compassionate CSR

October 14, 2025
Ankit Mathur, Co-founder and CEO of Greenway Grameen Infra

Empowering Rural Women in India: An Exclusive Interview with Ankit Mathur, Co-founder and CEO of Greenway Grameen Infra

September 22, 2025
Ashish Aggarwal, Chief Administrative Officer and Head of Corporate Responsibility at Cummins India

Driving CSR Impact in India: An Interview with Ashish Aggarwal, Head of Corporate Responsibility, Cummins India

September 18, 2025
Load More
Facebook Twitter Youtube LinkedIn Instagram
India CSR Logo

India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium services, we invite you to partner with us.

Follow us on social media:


Dear Valued Reader

India CSR is a free media platform that provides up-to-date information on CSR, Sustainability, ESG, and SDGs. We need reader support to continue delivering honest news. Donations of any amount are appreciated.

Help save India CSR.

Donate Now

Donate at India CSR

  • About India CSR
  • Team
  • India CSR Awards 2025
  • India CSR Leadership Summit
  • Partnership
  • Guest Posts
  • Services
  • ESG Professional Network
  • Content Writing Services
  • Business Information
  • Contact
  • Privacy Policy
  • Terms of Use
  • Donate

Copyright © 2025 - India CSR | All Rights Reserved

No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers

Copyright © 2025 - India CSR | All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.