RBI imposes monetary penalty on The Haryana State Co-operative Apex Bank Ltd., Chandigarh
Case Brief
By an order dated April 18, 2022, RBI imposed a monetary penalty of Rs 25,00,000 on The Haryana State Co-operative Apex Bank Limited, Chandigarh. The penalty was imposed under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, after NABARD’s statutory inspection and RBI’s examination found non-compliance with RBI directions on housing finance, including the maximum limit on housing loans to an individual borrower.
RBI imposed a monetary penalty under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. The bank was found, based on NABARD inspection and related correspondence, to have failed to comply with RBI directions on housing finance, including the maximum limit on the quantum of housing loan that could be granted to an individual borrower.
Severity Assessment
A monetary penalty of Rs 25 lakh falls in severity band 4, which is the maximum applicable level here.
The bank must bear the monetary penalty; the release does not indicate a broader operational restriction or withdrawal of any licence. The action is a compliance enforcement measure based on past non-compliance, with no explicit forward-looking cap or ban stated in the release.
Published as The Haryana State Co-operative Apex Bank Limited, Chandigarh
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
© 2026 RegOversight by OddVector