Case Brief
The Reserve Bank of India, by order dated March 11, 2026, imposed a monetary penalty of ₹30,000 on Loknete R.D. Appa, Kshirsagar Sahakari Bank Ltd., Niphad, Maharashtra. RBI said the penalty was for non-compliance with directions on loans and advances to directors, their relatives, and firms/concerns in which they are interested, as well as contravention of Section 20(1) and Section 35(2) read with Section 56 of the Banking Regulation Act, 1949. After a statutory inspection of the bank with reference to its financial position as on March 31, 2025, and consideration of the bank's reply and additional submissions, RBI sustained charges that the bank sanctioned loans to two of its directors and failed to furnish information sought by the inspecting officer.
Action Snapshot
- Primary Impact
- Fine: Rs 30,000
- Entity Type
- Co-operative bank
- Location