India, March 6 -- The Reserve Bank of India (RBI), through an order dated February 27, 2026, has imposed a monetary penalty of Rs 10,000 on Samruddhi Sahakari Bank Ltd for non-compliance with RBI directions related to the 'Submission of Data by Credit Institutions'. The penalty has been levied under the powers granted to RBI under Section 25 of the Credit Information Companies (Regulation) Act, 2005.
RBI conducted a statutory inspection of the bank based on its financial position as of March 31, 2025. Following supervisory findings and subsequent correspondence highlighting regulatory lapses, RBI issued a show-cause notice to the bank. After reviewing the bank's written response and oral submissions during a personal hearing, RBI determine...