MUMBAI, India, May 4 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBl) has, by an order dated April 29, 2026, imposed a monetary penalty of ₹2 lakh (Rupees Two Lakh only) on Pandharpur Urban Co-operative Bank Ltd., Pandharpur, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on 'Asset classification and treatment of accounts as Non-Performing Assets'. 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, 1949.
The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2025. Based...