RBI · Enforcement
RBI fines Raigad District Central Co-operative Bank ₹10.10 lakh for rule breaches
The penalty follows NABARD inspection that found director-related loans and failure to report credit data to all CICs.
What changed
- RBI imposed ₹10.10 lakh penalty on Raigad District Central Co-operative Bank
- Bank sanctioned director-related loan, violating Section 20(1) of BR Act
- Bank failed to report credit information to all Credit Information Companies
The read
RBI penalised Raigad District Central Co-operative Bank ₹10.10 lakh. The bank sanctioned a director-related loan, contravening Section 20(1) of the Banking Regulation Act, and failed to report borrower credit information to all Credit Information Companies, flouting RBI directions. The penalty, based on a NABARD inspection as of March 31, 2025, signals RBI's intolerance for governance lapses in co-operative banks. The fine is without prejudice to further action.
Key numbers
- Penalty: ₹10.10 lakh
- Order date: July 23, 2026
- Inspection date: March 31, 2025
Primary source: rbi.org.in