The Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks, including a hefty fine of Rs 18.30 lakh on Surat People’s Cooperative Bank for non-compliance with directions related to Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBs.
The other penalized banks are Narmadapuram Jila Sahakari Kendriya Bank, Damoh Jila Sahakari Kendriya Bank, and Ujjain Jila Sahakari Kendriya Bank.
By an order dated August 26, 2025, the RBI imposed a monetary penalty of Rs 1 lakh on Jila Sahakari Kendriya Bank Maryadit, Narmadapuram, Madhya Pradesh, for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act).
Similarly, a monetary penalty of Rs 50,000 was imposed on Jila Sahakari Kendriya Bank Maryadit, Damoh, Madhya Pradesh, for contravention of the same provisions.
Further, a monetary penalty of Rs 1 lakh was imposed on Jila Sahakari Kendriya Bank Maryadit, Ujjain, Madhya Pradesh, under Section 26A read with Section 56 of the BR Act. This penalty was exercised under the powers conferred on the RBI by Section 47A(1)(c) and Section 46(4)(i) of the BR Act.
