Bagalkot District Central Co-operative Bank Ltd., Bagalkot, Karnataka

RBI imposed a ₹5.50 lakh penalty on The Bagalkot District Central Co-operative Bank Limited, Bagalkot, Karnataka. The bank was found to have sanctioned a director-related loan and delayed submission of certain statutory returns to NABARD.

The bank must absorb the ₹5.50 lakh penalty and address the compliance lapses identified by RBI/NABARD. The order does not itself impose an operating restriction, but it signals supervisory concern and leaves open the possibility of further action by RBI for the same or related deficiencies.

• Sections 20 read with Section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act

RBI imposed a penalty of ₹1 lakh on Bagalkot District Central Co-operative Bank Ltd., Bagalkot, Karnataka. The action followed findings that the bank sanctioned certain loans to its directors in contravention of the Banking Regulation Act.

The bank must bear the monetary penalty, but the release does not impose any new operational restriction or cancellation. The finding may also leave the bank exposed to any other action RBI may choose to initiate separately; customers and counterparties are not subject to an immediate forward-looking restriction from this order.

• Section 20 read with Section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act