Case Brief
The Reserve Bank of India imposed a monetary penalty on The Ahmedabad Mercantile Co-operative Bank Limited, Ahmedabad by order dated September 17, 2025. RBI said the bank had not complied with certain directions on membership of Credit Information Companies by co-operative banks, specifically by failing to submit certain credit information of its borrowers to CICs as on March 31, 2024. The penalty was imposed under Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005, after inspection, notice, reply, and personal hearing.
Action Snapshot
- Primary Impact
- Fine: Rs 23,000
- Entity Type
- Co-operative bank
- Location
- Ahmedabad
- Order Date