MUMBAI, India, Aug. 4 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated July 30, 2025, imposed a monetary penalty of ₹25,000 (Rupees Twenty Five Thousand only) on The Sonepat Central Cooperative Bank Ltd., Haryana (the bank) for non-compliance with certain directions issued by RBI on 'Membership of Credit Information Companies (CICs) by Co-operative Banks'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 25 read with Section 23 of the Credit Information Companies (Regulation) Act, 2005.
The statutory inspection of the bank was conducted by NABARD with reference to its financial position as on March 31, 2024. Based o...