The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 32.50 lakh on Bank of Maharashtra for non-compliance with RBI directions related to credit information reporting for Self Help Group (SHG) members and Know Your Customer (KYC) norms.

The penalty, imposed through an order dated February 6, 2026, follows RBI’s Statutory Inspection for Supervisory Evaluation based on the bank’s financial position as of March 31, 2025. The central bank found that the bank had failed to report SHG member-level data to Credit Information Companies and did not identify beneficial owners in certain accounts.

RBI clarified that the penalty was imposed due to regulatory compliance deficiencies and does not affect the validity of customer transactions. The action is also without prejudice to any further regulatory measures that may be taken against the bank.