Case Brief
By an order dated December 12, 2023, RBI imposed a monetary penalty of ₹5.00 lakh on Janakalyan Sahakari Bank Limited, Mumbai. The penalty was imposed because, during statutory inspection, RBI found that the bank had not reported credit information for certain eligible loan accounts to the CRILC reporting platform within the prescribed timeline, contrary to RBI’s directions on reporting of large exposures. RBI issued a show-cause notice, considered the bank’s response and oral submissions, and then held the non-compliance substantiated under the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Mumbai, Maharashtra