Enforcement

The Reserve Bank of India (RBI) has, by an order dated February 27, 2026, imposed a monetary penalty of ₹3.10 lakh (Rupees Three Lakh Ten Thousand only) on Maanaveeya Development & Finance Private Limited (the company) for non-compliance with certain directions issued by RBI on ‘Governance’. This penalty has been imposed in exercise of powers conferred on RBI under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated February 27, 2026, imposed a monetary penalty of ₹11.50 lakh (Rupees Eleven Lakh Fifty Thousand only) on Mahindra & Mahindra Financial Services Limited (the company) for non-compliance with certain directions issued by RBI on ‘Fair Practices Code’ and ‘Internal Ombudsman for Regulated Entities’. This penalty has been imposed in exercise of powers conferred on RBI under Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated February 23, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Mahbubnagar District Co-operative Central Bank Ltd., Telangana (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated February 23, 2026, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Guntur Women Co-operative Urban Bank Limited, Andhra Pradesh (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. 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.

The Reserve Bank of India (RBI) has, by an order dated February 23, 2026, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Prakasapuram Co-operative Urban Bank Limited, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Declaration of dividend by 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 Reserve Bank of India (RBI) has, by an order dated February 13, 2026, imposed a monetary penalty of ₹3.10 Lakh (Rupees Three Lakh Ten Thousand only) on Vita Merchants’ Co-operative Bank Ltd., Vita, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’ and ‘Fair Lending Practice - Penal Charges in Loan Accounts’. 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 Reserve Bank of India (RBI) has, by an order dated February 16, 2026, imposed a monetary penalty of ₹38.60 lakh (Rupees Thirty Eight Lakh Sixty Thousand only) on UCO Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Periodicity of payment of interest on savings deposits’, ‘Locker Rent’ and ‘Credit Information Reporting in respect of Self Help Group (SHG) members’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with section 46(4)(i) and 51(1) of the Banking Regulation Act, 1949 and section 25(1)(iii) read with section 23(4) of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has, by an order dated February 13, 2026, imposed a monetary penalty of ₹40,000/- (Rupees Forty Thousand only) on Matoshri Mahila Sahakari Bank Limited, Parner, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. 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 Reserve Bank of India (RBI) has, by an order dated February 06, 2026, imposed a monetary penalty of ₹29.60 lakh (Rupees Twenty Nine Lakh Sixty Thousand only) on DCB Bank Limited (the bank) for non-compliance with certain directions issued by RBI on loans extended against pledge of gold ornaments and jewellery for non-agricultural end uses. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated February 06, 2026, imposed a monetary penalty of ₹32.50 lakh (Rupees Thirty Two Lakh Fifty Thousand only) on Bank of Maharashtra (the bank) for non-compliance with certain provisions of directions issued by RBI on ‘Credit information reporting in respect of Self Help Group members’ and ‘Know Your Customer’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 25(1)(iii) read with section 23(4) of the Credit Information Companies (Regulation) Act, 2005 and section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated February 10, 2026, imposed a monetary penalty of ₹3.80 lakh (Rupees Three Lakh Eighty Thousand only) on Navi Finserv Limited (the company) for non-compliance with certain provisions of the directions issued by RBI on ‘Recovery Agents’. This penalty has been imposed in exercise of powers conferred on RBI under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated February 06, 2026, imposed a monetary penalty of ₹5.30 lakh (Rupees Five Lakh Thirty Thousand only) on IIFL Finance Limited (the company) for non-compliance with certain directions issued by RBI on ‘Asset Classification’. This penalty has been imposed in exercise of powers conferred on RBI under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated February 06, 2026, imposed a monetary penalty of ₹63.60 lakh (Rupees Sixty Three Lakh Sixty Thousand only) on CSB Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Scope of activities to be undertaken of Business Correspondents (BCs)’ and ‘Customer Service in Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated February 11, 2026, imposed a monetary penalty of ₹2 lakh (Rupees Two Lakh only) on The Berhampur Co-operative Urban Bank Limited, Odisha (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory/ Other Restrictions - 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 Reserve Bank of India (RBI) has, by an order dated February 09, 2026, imposed a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on the Ganganagar Kendriya Sahkari Bank Limited, Rajasthan (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. 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.

The Reserve Bank of India (RBI) has, by an order dated February 6, 2026, imposed a monetary penalty of ₹15 lakh (Rupees Fifteen Lakh only) on Bharat Co-operative Bank (Mumbai) Limited (the bank), for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’. 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.