Case Brief
By an order dated June 3, 2025, RBI imposed a monetary penalty of ₹1 lakh on Poornawadi Nagarik Sahakari Bank Maryadit, Beed, Maharashtra. The action followed a statutory inspection as of March 31, 2024 and subsequent supervisory proceedings. RBI found sustained contraventions involving sanction of certain gold loans beyond the prescribed Loan to Value ceiling and failure to upload certain customers' KYC records to CKYCR within the prescribed time, in violation of RBI directions on Management of Advances - UCBs and KYC.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Beed, Maharashtra
- Order Date