India, May 15 -- Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 16.30 lakh on Shree Kadi Nagarik Sahakari Bank Ltd. for non-compliance with regulatory directions related to exposure norms and management of advances applicable to urban cooperative banks (UCBs).
The penalty was imposed through an order dated May 6, 2026, under provisions of the Banking Regulation Act, 1949.
The action follows a statutory inspection conducted by RBI with reference to the bank's financial position as of March 31, 2025. Based on supervisory findings and subsequent correspondence, RBI issued a show-cause notice to the bank seeking an explanation for the observed violations.
After considering the bank's reply and oral submissions during the pe...