India, Jan. 22 -- The Reserve Bank of India (RBI), through an order dated January 20, 2026, has imposed a monetary penalty of Rs 8 lakh on Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur, Maharashtra, for non-compliance with RBI directions relating to Advances to Builders/Contractors. The penalty 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.
The action follows a statutory inspection conducted with reference to the bank's financial position as on March 31, 2025. Based on supervisory findings and subsequent correspondence, RBI issued a show-cause notice to the bank. After examining the bank's response and additional submissions, the regulator concluded tha...