MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBl) has, by an order dated June 30, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on Nirmal Urban Co-operative Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on 'Limits on exposure to single and group borrowers/parties and large exposures and Revision in the target for priority sector lending - UCBs' and operational instructions issued under 'Supervisory Action Framework (SAF)'. 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 the Banking Regulation Act, ...