RBI imposes monetary penalty on Navapur Mercantile Co-operative Bank Ltd., Nandurbar, Maharashtra

Case Brief

The Reserve Bank of India imposed a monetary penalty of ₹10,000 on Navapur Mercantile Co-operative Bank Ltd., Nandurbar, Maharashtra, by order dated June 16, 2026. RBI said the penalty was based on supervisory findings from a statutory inspection with reference to the bank’s financial position as on March 31, 2025, and related correspondence. The sustained violation was that the bank did not furnish the requisite information sought by RBI’s inspecting officer during the inspection, contrary to Section 35(2) read with Section 56 of the Banking Regulation Act, 1949. RBI stated that the penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act, and that it is without prejudice to any other action that may be initiated.