MUMBAI, India, Oct. 3 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated September 29, 2025, imposed a monetary penalty of ₹5.50 lakh (Rupees Five Lakh Fifty Thousand only) on The Bagalkot District Central Co-operative Bank Limited, Bagalkot, Karnataka (the bank) for contravention of provisions of Sections 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by National Bank for Agriculture and Rural Development (NABARD) on 'Offsite Surveillance System - Revision of Due dates for submission of OSS/FMS Returns'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Se...