The RBI has imposed penalty on 6 Co-operative Banks. The details are as follows:
The Reserve Bank of India (RBl) has, by an order dated June 30, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on Nirmal Urban Co-operative Bank Ltd., Nagpur, Maharashtra as the bank had not reduced, single borrower exposure limit for fresh loans and advances by 50% of the applicable regulatory limit, in certain cases; and offered interest rates on certain deposits, higher than those offered by the State Bank of India.
The Reserve Bank of India has extended restrictions on Ramgarhia Co-operative Bank Limited, New Delhi for a further period of 03 months from close of business on July 08, 2026 to close of business on October 08, 2026, subject to review.
The Reserve Bank of India has extended restrictions on Innovative Co-operative Urban Bank Limited, New Delhi for a further period of 03 months from close of business on July 04, 2026 to close of business on October 04, 2026, subject to review.
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Baghat Urban Co-operative Bank Limited, Solan for a further period of 03 months from close of business on July 08, 2026 to close of business on October 08, 2026, subject to review.
The Reserve Bank of India (RBI) has, by an order dated June 30, 2026, imposed a monetary penalty of ₹1.05 lakh (Rupees One Lakh Five Thousand only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Ltd, Gorakhpur as the bank had failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed period; and obtain membership of two Credit Information Companies (CICs) and submit credit information of its borrowers to all the four CICs.
The Reserve Bank of India (RBI) has, by an order dated June 29, 2026, imposed a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on Dharmavir Sambhaji Urban Cooperative Bank Ltd., Pune, Maharashtra as the bank had failed to upload the KYC records of customers onto Central KYC Records Registry (CKYCR) within the prescribed timeline.
