The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 lakh on Rajnandgaon Kendriya Sahakari Bank Maryadit, Chhattisgarh, for violating regulatory directions related to interest rates on deposits.

The penalty was imposed through an order dated July 16, 2026, after RBI found that the bank had paid additional interest to certain ineligible depositors, breaching its prescribed norms.

The action follows a statutory inspection conducted by the National Bank for Agriculture and Rural Development (NABARD) based on the bank's financial position as of March 31, 2025. After reviewing the inspection findings, the bank's response, additional submissions, and oral representations, the RBI concluded that the regulatory violation warranted a monetary penalty.

The central bank 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. It also stated that the action is without prejudice to any further regulatory measures that may be initiated against the bank.