RBI imposes monetary penalty on Pandharpur Urban Co-operative Bank Ltd., Pandharpur, Maharashtra

Case Brief

The Reserve Bank of India imposed a monetary penalty of Rs 2 lakh on Pandharpur Urban Co-operative Bank Ltd., Pandharpur, Maharashtra, by order dated April 29, 2026. The action followed a statutory inspection with reference to the bank's financial position as on March 31, 2025, and supervisory findings of non-compliance with RBI directions on asset classification and treatment of non-performing assets. RBI stated that the sustained charge was that the bank sanctioned additional credit facilities to certain borrowers for repayment of their existing non-performing loans. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.