India, June 9 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 50,000 on The Amravati Merchants Sahakari Bank Ltd. for non-compliance with regulatory directions relating to loans and advances granted to directors, their relatives, and entities in which they have an interest.
The penalty was imposed through an order dated June 4, 2026, following 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. After reviewing the bank's written response, additional submissions, and oral representations during a personal hearing, the regulator concluded that the bank had ...