Regulatory Alerts2026-08-24
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RBI imposes monetary penalty on Vikas Souharda Co-operative Bank Limited, Hosapete, Karnataka
The Reserve Bank of India imposed a monetary penalty of ₹1 lakh on Vikas Souharda Co-operative Bank Limited, Hosapete, Karnataka, for failing to classify certain loan accounts as non-performing assets. This penalty was issued 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. The action addresses non-compliance with directions on Income Recognition, Asset Classification, Provisioning, and Other Related Matters for Urban Co-operative Banks.
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