Case Brief
By an order dated August 20, 2026, RBI imposed a monetary penalty on Vikas Souharda Co-operative Bank Limited, Hosapete, Karnataka, after a statutory inspection found non-compliance with RBI directions on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs’. RBI said the bank failed to classify certain loan accounts as NPAs. The penalty was imposed under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Hosapete, Karnataka
- Order Date