MUMBAI, India, June 4 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated May 26, 2026, imposed a monetary penalty of ₹14.25 lakh (Rupees Fourteen Lakh Twenty Five Thousand only) on Nagar Sahkari Bank Ltd., Maharajganj (Uttar Pradesh) (the bank) for non-compliance with certain directions issued by RBI on 'Income Recognition, Asset Classification and Provisioning and Other Related Matters', 'Exposure Norms and Statutory / Other Restrictions', 'Membership of Credit Information Companies (CICs)' and 'Management of Advances'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of th...