MUMBAI, India, Dec. 29 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated December 26, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Salem Urban Co-operative Bank Limited, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on 'Framework for Compromise Settlements and Technical Write-offs'. 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 RBI with reference to its financial position as on March 31, 2025. Based on superviso...