Case Brief
By an order dated July 23, 2026, RBI imposed a monetary penalty of ₹7 lakh on Sangli District Central Co-operative Bank Ltd., Maharashtra. The penalty followed a statutory inspection by NABARD and a show-cause process, after which RBI concluded that the bank had sanctioned director-related loans, contravening section 20(1) 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 the action was based on statutory-compliance deficiencies.
Action Snapshot
- Primary Impact
- Fine: Rs 7.00 L
- Entity Type
- Co-operative bank
- Location
- Maharashtra
- Order Date