MUMBAI, India, March 30 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated March 23, 2026 imposed a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on Nagar Sahakari Bank Limited, Etawah, Uttar Pradesh (the bank) for non-compliance with certain directions issued by RBI on 'Loans and advances to directors, their relatives, and firms / concerns in which they are interested', 'Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs', 'Exposure Norms and Statutory / Other Restrictions - UCBs' and 'Know Your Customer (KYC)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read...