✨ Smart Article Summary
- The Reserve Bank of India (RBI) has recently slapped monetary penalties on three urban co-operative banks in Maharashtra and Madhya Pradesh for not following various regulatory guidelines.
- In the first instance, the RBI has fined Pimpri Chinchwad Sahakari Bank Maryadit in Pimpri, Maharashtra, a sum of Rs 2.10 lakh, as per an order dated January 20, 2026.
- This penalty was imposed due to the bank’s failure to comply with RBI’s directives regarding ‘Exposure Norms and Statutory / Other Restrictions.’ On the same day, the RBI also issued a monetary penalty of Rs 8 lakh against Shri Kanyaka Nagari Sahakari Bank Ltd., located in Chandrapur, Maharashtra, for not adhering to the guidelines concerning ‘Advances to Builders/Contractors.’ Furthermore, the RBI has fined Sri Satya Sai Nagrik Sahakari Bank Maryadit in Bhopal, Madhya Pradesh, an amount of Rs 1 lakh for not complying with regulatory directions on ‘Prudential Exposure Limits.’
The Reserve Bank of India (RBI) has recently slapped monetary penalties on three urban co-operative banks in Maharashtra and Madhya Pradesh for not following various regulatory guidelines.
In the first instance, the RBI has fined Pimpri Chinchwad Sahakari Bank Maryadit in Pimpri, Maharashtra, a sum of Rs 2.10 lakh, as per an order dated January 20, 2026. This penalty was imposed due to the bank’s failure to comply with RBI’s directives regarding ‘Exposure Norms and Statutory / Other Restrictions.’
On the same day, the RBI also issued a monetary penalty of Rs 8 lakh against Shri Kanyaka Nagari Sahakari Bank Ltd., located in Chandrapur, Maharashtra, for not adhering to the guidelines concerning ‘Advances to Builders/Contractors.’
Furthermore, the RBI has fined Sri Satya Sai Nagrik Sahakari Bank Maryadit in Bhopal, Madhya Pradesh, an amount of Rs 1 lakh for not complying with regulatory directions on ‘Prudential Exposure Limits.’