Case Brief
By an order dated June 07, 2024, RBI imposed a monetary penalty of ₹2 lakh on Nandani Sahakari Bank Ltd., Kolhapur. The action followed a statutory inspection and supervisory review that found non-compliance with RBI directions on ‘Gold Loan – Bullet Repayment – UCBs’ and ‘Management of Advances – UCBs’. RBI said the bank had sanctioned gold loans beyond the prescribed regulatory limit under the bullet repayment scheme, and the penalty was imposed under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- Co-operative bank
- Location
- Kolhapur, Maharashtra
- Order Date