India, Oct. 31 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 lakh on Parner Taluka Sainik Sahakari Bank Ltd., Parner, Maharashtra, for non-compliance with RBI directions on 'Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs'.
The penalty, issued through an order dated October 23, 2025, has been levied under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
RBI conducted a statutory inspection of the bank based on its financial position as of March 31, 2024. Following supervisory findings indicating non-compliance with regulatory norms, a notice was issued to the bank asking it to explain why a penalty should no...