Regulatory Alerts2026-06-04
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RBI imposes monetary penalty on Nagar Sahkari Bank Ltd., Maharajganj (U.P.)
The Reserve Bank of India imposed a monetary penalty of ₹14.25 lakh on Nagar Sahkari Bank Ltd. for non-compliance with directions regarding income recognition, asset classification, exposure norms, credit information company membership, and management of advances. The penalty follows a statutory inspection of the bank's financial position as of March 31, 2025, which revealed failures to correctly classify non-performing assets, breaches of regulatory ceilings on unsecured advances, failure to upload credit information to Credit Information Companies, and deficiencies in credit sanctions.
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