Case Brief
RBI, by order dated August 28, 2026, imposed a monetary penalty of ₹2.03 lakh on Jai Bhawani Sahakari Bank Ltd., Pune. The action followed a statutory inspection and supervisory findings of non-compliance with RBI directions on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’ and ‘Know Your Customer (KYC)’. RBI found that the bank failed to report credit information of its borrowers to all CICs and failed to review the risk categorization of accounts as required. The penalty was imposed under the Banking Regulation Act, 1949 and the Credit Information Companies (Regulation) Act, 2005.
Action Snapshot
- Primary Impact
- Fine: Rs 2.03 L
- Entity Type
- Co-operative bank
- Location
- Pune, Maharashtra