India, Sept. 1 -- The Reserve Bank of India (RBI) has, by an order dated August 28, 2025, imposed a monetary penalty of ?18.30 lakh (Rupees Eighteen Lakh Thirty Thousand only) on The Surat People's Co-operative Bank Limited, Surat (the bank) for non-compliance with certain directions issued by RBI on 'Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) - UCBs'. 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, 2024. Based on supervisory findings of non-compl...