RBI imposes monetary penalty on The Dhule and Nandurbar District Central Co-operative Bank Ltd., Dhule, Maharashtra

Case Brief

By an order dated February 13, 2025, RBI imposed a monetary penalty of ₹25,000 on The Dhule and Nandurbar District Central Co-operative Bank Ltd., Dhule, Maharashtra. The penalty followed NABARD’s statutory inspection and RBI’s supervisory findings that the bank had not complied with RBI directions on membership of Credit Information Companies by co-operative banks, specifically that it failed to submit credit information of its borrowers to any of the four CICs. The penalty was imposed under Section 25 of the Credit Information Companies (Regulation) Act, 2005, after a show-cause notice, the bank’s reply, oral submissions, and additional submissions were considered.