Regulatory Alerts2026-08-31
Added
RBI imposes monetary penalty on Jai Bhawani Sahakari Bank Ltd., Pune
The Reserve Bank of India imposed a monetary penalty of ₹2.03 lakh on Jai Bhawani Sahakari Bank Ltd., Pune, for non-compliance with directions regarding membership of Credit Information Companies and Know Your Customer requirements. The penalty stems from the bank's failure to report credit information of its borrowers to all Credit Information Companies and its failure to review the risk categorization of accounts as per the prescribed periodicity. This action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, and Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005.
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