India, May 7 -- The Reserve Bank of India (RBI) has, by an order dated May 04, 2026, imposed a monetary penalty of Rs. 5 lakh (Rupees Five Lakh only) on Himachal Pradesh Gramin Bank, Mandi (the bank) for contravention of the provisions of Section 26A read with Section 51(1) of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on 'Interest Rate on Deposits'. 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 51(1) of the BR Act.The statutory inspection of the bank was conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2025. ...