The Reserve Bank of India (RBI) has imposed monetary penalties on two Mumbai-based cooperative banks due to violations of regulatory norms. The Zoroastrian Co-operative Bank has been fined ₹1.25 crore for non-compliance with specific RBI guidelines. Similarly, Shreeji Bhatia Cooperative Bank faced a ₹1 lakh penalty for breaches related to the Supervisory Action Framework and Know Your Customer (KYC) directions. These actions highlight RBI's stringent measures to ensure adherence to banking regulations and maintain financial system integrity