RBI Imposes ₹10,000 Penalty on Maharashtra’s Samruddhi Sahakari Bank for Data Submission Lapses
Moneylife Digital Team 06 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹10,000 on Maharashtra-based Samruddhi Sahakari Bank Ltd, located in Nashik, for failing to comply with RBI directions regarding the submission of credit information by credit institutions.
 
The penalty follows a statutory inspection of Samruddhi Sahakari Bank, which revealed that the lender had not submitted credit information relating to its customers to any of the credit information companies (CICs), as required under regulatory guidelines.
 
RBI stated that after issuing a notice to Samruddhi Sahakari Bank, it examined the lender’s written reply, oral submissions made during the personal hearing and additional explanations submitted by the lender. After considering these responses, the regulator concluded that the charges against the bank were sustained and warranted the imposition of a monetary penalty.
 
However, the banking regulator clarified that the action has been taken solely on account of regulatory compliance deficiencies. It does not intend to comment on the validity of any transactions or agreements entered into by the bank with its customers.
 
RBI further noted that the imposition of the monetary penalty is without prejudice to any other action that may be initiated against Samruddhi Sahakari Bank in the future.
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