Case Brief
RBI, by an order dated July 30, 2025, imposed a monetary penalty of Rs 25,000 on The Sonepat Central Cooperative Bank Ltd., Haryana for non-compliance with RBI directions on membership of Credit Information Companies by co-operative banks. The penalty was imposed after NABARD’s statutory inspection and subsequent supervisory proceedings, including a show-cause notice and hearing. RBI sustained the charge that the bank failed to submit credit information of its borrowers to all four CICs, and imposed the penalty under Section 25 read with Section 23 of the Credit Information Companies (Regulation) Act, 2005.
Action Snapshot
- Primary Impact
- Fine: Rs 25,000
- Entity Type
- Co-operative bank
- Location
- Haryana, Haryana