**Executive Summary**
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹10,000 on Samruddhi Sahakari Bank Ltd. for failing to submit customer credit information to Credit Information Companies. This action stems from a statutory inspection as of March 31, 2025, and the penalty was confirmed after the bank was issued a notice and allowed to provide a response. The RBI's order was dated February 27, 2026.
**Key Points / Main Content**
* **Imposition of Penalty:**
* The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹10,000 on Samruddhi Sahakari Bank Ltd., Nandgaon, Nashik, Maharashtra.
* This penalty was ordered on February 27, 2026.
* **Reason for Penalty:**
* The penalty is for non-compliance with RBI directions regarding the 'Submission of Data by Credit Institutions'.
* Specifically, the bank failed to submit credit information of its customers to any Credit Information Companies (CICs).
* **Legal Basis:**
* The penalty was imposed under Section 25 of the Credit Information Companies (Regulation) Act, 2005.
* **Inspection and Process:**
* The RBI conducted a statutory inspection of the bank concerning its financial position as of March 31, 2025.
* Following supervisory findings of non-compliance, a notice was issued to the bank to show cause why a penalty should not be imposed.
* The bank's reply and oral submissions were considered before the penalty was imposed.
* **Scope of Action:**
* This action is based on deficiencies in regulatory compliance and does not affect the validity of transactions or agreements between the bank and its customers.
* The imposition of the penalty is without prejudice to any other action RBI may initiate against the bank.
**Impact Analysis**
**Samruddhi Sahakari Bank Ltd.**
* **Impact:** The bank has been fined ₹10,000 due to its failure to submit credit information of its customers to Credit Information Companies, indicating a lapse in regulatory compliance.
* **Action Required:** The bank has already undergone the process of responding to a show-cause notice and personal hearing. The imposition of the penalty is the final action in this specific instance.
Key Entities Referenced
Reserve Bank of India (RBI): The regulatory authority that imposed the penalty and issued the directive.
Credit Information Companies (Regulation) Act, 2005: The law under which RBI is empowered to impose the penalty.
Samruddhi Sahakari Bank Ltd., Nandgaon, Nashik, Maharashtra: The bank that was penalized for non-compliance.
Submission of Data by Credit Institutions: The specific directive that the bank failed to comply with.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
March 05, 2026
RBI imposes monetary penalty on Samruddhi Sahakari Bank Ltd., Nandgaon,
Nashik, Maharashtra
The Reserve Bank of India (RBI) has, by an order dated February 27, 2026,
imposed a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on Samruddhi
Sahakari Bank Ltd., Nandgaon, Nashik, Maharashtra (the bank), for non-compliance
with certain directions issued by RBI on ‘Submission of Data by Credit Institutions’.
This penalty has been imposed in exercise of powers conferred on RBI under the
provisions of Section 25 of the Credit Information Companies (Regulation) Act, 2005.
The statutory inspection of the bank was conducted by RBI with reference to its
financial position as on March 31, 2025. Based on supervisory findings of non-
compliance with RBI directions and related correspondence in that regard, a notice
was issued to the bank advising it to show cause as to why penalty should not be
imposed on it for its failure to comply with the said directions. After considering the
bank’s reply to the notice and oral submissions made during the personal hearing, RBI
found, inter alia, that the following charge against the bank was sustained, warranting
imposition of monetary penalty:
The bank had failed to submit credit information of its customers to any of the Credit
Information Companies (CICs).
This action is based on deficiencies in regulatory compliance and is not intended to
pronounce upon the validity of any transaction or agreement entered by the bank with
its customers. Further, imposition of monetary penalty is without prejudice to any other
action that may be initiated by RBI against the bank.
(Brij Raj)
Press Release: 2025-2026/2217 Chief General Manager