Press Releases

RBI imposes monetary penalty on Bharat Co-operative Bank (Mumbai) Limited

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.

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.

RBI imposes monetary penalty on Bharat Co-operative Bank (Mumbai) Limited