Case Brief
RBI imposed a monetary penalty on The Aska Central Co-operative Bank Ltd., Aska, Odisha by order dated May 20, 2025. The action followed a statutory inspection by NABARD with reference to the bank’s financial position as on March 31, 2024, which found non-compliance with RBI directions on membership of Credit Information Companies by co-operative banks. RBI concluded that the bank had failed to furnish credit information of its customers to any Credit Information Company, and imposed the penalty under the Credit Information Companies (Regulation) Act, 2005.
Action Snapshot
- Primary Impact
- Fine: Rs 10,000
- Entity Type
- Co-operative bank
- Location
- Aska, Odisha
- Order Date