The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 10,000 on Samruddhi Sahakari Bank Ltd., Nandgaon in Nashik district of Maharashtra for non-compliance with regulatory directions related to the submission of credit information.
According to the central bank, the penalty was imposed through an order dated February 27, 2026 under the provisions of Section 25 of the Credit Information Companies (Regulation) Act, 2005.
The action follows the statutory inspection of the cooperative bank conducted by RBI with reference to its financial position as on March 31, 2025. During the supervisory review, it was found that the bank had failed to submit credit information of its customers to any of the Credit Information Companies (CICs), as required under RBI guidelines.
After identifying the compliance lapse, RBI issued a show-cause notice to the bank. Following the bank’s written reply and oral submissions during a personal hearing, the central bank concluded that the violation warranted a monetary penalty.
