Case Brief
By an order dated August 12, 2025, RBI imposed a monetary penalty of ₹4.20 lakh on Maharashtra Gramin Bank, Aurangabad. The penalty was for non-compliance with NABARD directions on submission of OSS/FMS returns and RBI directions on KYC, after supervisory findings showed delayed reporting of certain frauds and failure to establish a six-monthly periodic review system for risk categorisation of accounts. The action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act.
Action Snapshot
- Primary Impact
- Fine: Rs 4.20 L
- Entity Type
- Bank
- Location
- Aurangabad, Maharashtra
- Order Date