Jogindra Central Co-operative Bank Ltd., Himachal Pradesh

RBI has imposed a monetary penalty of Rs 1 lakh on Jogindra Central Co-operative Bank Ltd., Himachal Pradesh. The action follows contravention involving sanctioning/renewing director-related loans.

The bank must absorb the Rs 1 lakh penalty and remain mindful of compliance obligations under the Banking Regulation Act, particularly restrictions on director-related lending. The action does not itself impose an operational restriction, but it signals supervisory concern and may be followed by further regulatory action if lapses persist.

• 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 Banking Regulation Act, 1949

RBI imposed a ₹3.50 lakh penalty on Jogindra Central Co-operative Bank Ltd., Solan for non-compliance with NABARD directions on fraud classification, reporting and monitoring. The bank was found to have delayed reporting frauds.

The bank must absorb the monetary penalty and address the compliance weaknesses identified by RBI/NABARD, particularly around timely fraud reporting. The order does not by itself restrict current banking operations, but it may increase supervisory scrutiny and can be followed by other regulatory action.

• section 47 A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949