RBI Imposes ₹15 Lakh Penalty on Bharat Cooperative Bank from Mumbai
Moneylife Digital Team 10 February 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹15 lakh on Mumbai-based Bharat Cooperative Bank Ltd for non-compliance with certain directions issued by RBI on interest rates on deposits.
 
The statutory inspection of Bharat Cooperative Bank found that the lender failed to pay interest on certain eligible term deposits that were withdrawn before maturity.
 
After considering the lender’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI says the charges against Bharat Cooperative Bank are sustained, warranting the imposition of a monetary penalty.
 
However, the banking regulator clarified that its action against Bharat Cooperative Bank is based on regulatory compliance deficiencies and is not intended to pronounce on the validity of any transactions or agreements entered into by the Bank with its customers. Further, imposition of a monetary penalty is without prejudice to any other action that may be initiated against the Bank, RBI added.
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