RBI imposes monetary penalty on Raigad District Central Co-operative Bank Ltd., Maharashtra

Case Brief

The Reserve Bank of India imposed a monetary penalty of ₹10.10 lakh on Raigad District Central Co-operative Bank Ltd., Maharashtra, by order dated July 23, 2026. The penalty was based on contraventions of section 20(1) read with section 56 of the Banking Regulation Act, 1949 and RBI directions on membership of Credit Information Companies by co-operative banks. RBI’s supervisory inspection, conducted by NABARD with reference to the bank’s financial position as on March 31, 2025, found that the bank had sanctioned a director-related loan and failed to report credit information of its borrowers to all Credit Information Companies. After notice, reply and additional submissions, RBI sustained these charges and imposed the penalty under the cited statutory provisions.