Regulatory Alerts2026-08-24
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RBI imposes monetary penalty on Shri Vijay Mahantesh Co-operative Bank Limited, Hungund, Karnataka
The Reserve Bank of India imposed a monetary penalty of ₹2.50 lakh on Shri Vijay Mahantesh Co-operative Bank Limited, Hungund, Karnataka, for non-compliance with directions on income recognition, asset classification, provisioning, and loans to directors. The penalty stems from supervisory findings that the bank failed to classify certain loan accounts as non-performing assets and sanctioned director-related loans. This action was taken under sections 47A(1)(c), 46(4)(i), and 56 of the Banking Regulation Act, 1949, following a statutory inspection of the bank's financial position as of March 31, 2025.
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