Recorded RBI impact
Fine: Rs 10,000
Monetary penalty · Fresh imposition
Published by RBI
18 Jun 2026
Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹10,000 on Navapur Mercantile Co-operative Bank Ltd., Nandurbar, Maharashtra, by order dated June 16, 2026. RBI said the penalty was based on supervisory findings from a statutory inspection with reference to the bank’s financial position as on March 31, 2025, and related correspondence. The sustained violation was that the bank did not furnish the requisite information sought by RBI’s inspecting officer during the inspection, contrary to Section 35(2) read with Section 56 of the Banking Regulation Act, 1949. RBI stated that the penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act, and that it is without prejudice to any other action that may be initiated.
Why RBI Acted
RBI imposed a monetary penalty after a statutory inspection found that Navapur Mercantile Co-operative Bank Ltd. had contravened Section 35(2) read with Section 56 of the Banking Regulation Act, 1949. The sustained charge was that the bank did not furnish the requisite information sought by the inspecting officer of RBI during the inspection. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act, after considering the bank’s reply and oral submissions.
Operating Impact
The bank must absorb the monetary penalty and may still face any further action RBI chooses to initiate. The order does not describe a business restriction, but it records a compliance lapse that may be relevant in future supervisory scrutiny.
Regulatory Basis
- Section 35(2) 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
Action Facts
- Primary Impact
- Fine: Rs 10,000
- Order Date
- 16 Jun 2026
- Effective From
- 16 Jun 2026
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- Co-operative bank