RBI Slaps ₹4.30 Lakh Penalty on Bhind Jilla Sahakari Kendriya Bank and Valuefin India Credit Services for Regulatory Violations
Moneylife Digital Team 14 August 2026
Reserve Bank of India (RBI) has imposed penalties totalling ₹4.30 lakh on Bhind, Madhya Pradesh-based Jilla Sahakari Kendriya Bank Maryadit and Valuefin India Credit Services Pvt Ltd, a non-banking financial company (NBFC), for non-compliance with directions issued by the banking regulator.  The highest penalty of ₹2.50 lakh was imposed on Jilla Sahakari Kendriya Bank Maryadit, Bhind. Valuefin India Credit Services was penalised ₹1.80 lakh.
 
Bhind Jilla Sahakari Kendriya Bank Maryadit has been penalised for contravening Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act).
 
The statutory inspection of Bhind Jilla Sahakari Kendriya Bank Maryadit conducted by the National Bank for Agriculture and Rural Development (NABARD) found that the lender had failed to transfer eligible unclaimed amounts to the depositor education and awareness fund (DEA Fund) within the prescribed period.
 
 
Separately, Valuefin India Credit Services has been penalised for non-compliance with RBI directions relating to the acquisition of shareholding or control. The NBFC failed to obtain prior written permission from RBI for a change in shareholding exceeding 26% of its paid-up equity capital.
 
In both cases, RBI says penalties are based on deficiencies in regulatory compliance and are not intended to pronounce on the validity of any transaction or agreement they entered into with their customers.
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