RBICivil Money Penaltylow

Raigad District Central Cooperative Bank Ltd

Maharashtra, India

10 lakh on Raigad District Central Cooperative Bank Ltd, Maharashtra, as announced on Jul 28, 2026. The bank violated Section 20(1) of the Banking Regulation Act, 1949, by sanctioning a loan to a director-related entity. It also failed to report borrowers' credit information to all credit information companies as required under RBI regulations.

The violations were identified during a statutory inspection conducted by the National Bank for Agriculture and Rural Development (NABARD). 60 lakh against four cooperative banks. The RBI stated the penalty is based on deficiencies in regulatory compliance and is not intended to affect the validity of any transaction or agreement with customers.

Implications
  1. Demonstrates continued RBI scrutiny of cooperative banks' related-party lending and reporting obligations
  2. Highlights the importance of credit information company membership compliance for cooperative banks
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