Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 8 lakh on Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur, Maharashtra, by order dated January 20, 2026. RBI said the penalty followed a statutory inspection conducted with reference to the bank’s financial position as on March 31, 2025, and supervisory findings of non-compliance with RBI directions on ‘Advances to Builders/Contractors’. The specific sustained charge was that the bank sanctioned loans to builders/contractors that were partly used for acquisition of land. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 8.00 L
- Entity Type
- Co-operative bank
- Location
- Chandrapur, Maharashtra