The Reserve Bank of India (RBI), through an order dated February 27, 2026, has imposed a monetary penalty of Rs 10,000 on Samruddhi Sahakari Bank Ltd for non-compliance with RBI directions related to the ‘Submission of Data by Credit Institutions’. The penalty has been levied under the powers granted to RBI under Section 25 of the Credit Information Companies (Regulation) Act, 2005.

RBI conducted a statutory inspection of the bank based on its financial position as of March 31, 2025. Following supervisory findings and subsequent correspondence highlighting regulatory lapses, RBI issued a show-cause notice to the bank. After reviewing the bank’s written response and oral submissions during a personal hearing, RBI determined that the charge was sustained and warranted penal action.

The central bank observed that the bank had failed to submit its customers’ credit information to any of the Credit Information Companies (CICs), violating regulatory requirements.

RBI clarified that the penalty is based solely on deficiencies in regulatory compliance and does not affect the validity of any transactions or agreements between the bank and its customers. The central bank also stated that this monetary penalty is without prejudice to any further action that may be initiated against the bank.