Solapur Janata Sahakari Bank Limited, Solapur

RBI has imposed a ₹15 lakh monetary penalty on Solapur Janata Sahakari Bank Limited. The penalty was for contravention of the Banking Regulation Act relating to admission of a co-operative society as a member.

The bank must bear the monetary penalty; the release does not announce an operational restriction or suspension. RBI also states the penalty is without prejudice to any other action that may be initiated, so further supervisory or enforcement action remains possible.

• Section 5(ccv)(iii) 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 has imposed a penalty of Rs 28.30 lakh on Solapur Janata Sahakari Bank Limited, Solapur. The action was for governance lapses in its Board of Management and violation of a SAF prohibitory direction on fresh high-risk lending.

The bank must absorb the penalty and remain compliant with RBI’s governance and supervisory directions. The release does not announce any new restriction beyond the monetary penalty, but it signals ongoing supervisory scrutiny and the possibility of further action if non-compliance continues.

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