India, March 24 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 30,000 on Loknete R.D. Appa, Kshirsagar Sahakari Bank Ltd., Niphad, Maharashtra, for non-compliance with regulatory directions and violation of provisions under the Banking Regulation Act, 1949.
The penalty, imposed through an order dated March 11, 2026, follows supervisory findings during the bank's statutory inspection conducted with reference to its financial position as on March 31, 2025.
The RBI found that the bank had sanctioned loans to two of its directors, in violation of norms governing loans and advances to directors and related parties. Additionally, the bank failed to furnish required information sought by RBI officials during the inspecti...