RBI imposes monetary penalty on Nagar Sahakari Bank Limited, Etawah, Uttar Pradesh

Case Brief

RBI imposed a monetary penalty on Nagar Sahakari Bank Limited, Etawah, Uttar Pradesh by order dated March 23, 2026. The penalty was levied after a statutory inspection and subsequent show-cause process, with RBI finding sustained violations including sanctioning loans to directors, failing to classify certain credit facilities as NPAs, breaching the single-borrower exposure limit, and not uploading customer KYC records to CKYCR. The action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act.