PRIMARYRBI Press Releases·13 Jul 2026negative

RBI imposes monetary penalty on The Chikhli Urban Co-operative Bank Limited, Chikhli, Maharashtra

AI Summary

·RBI imposed a monetary penalty of ₹13 lakh on The Chikhli Urban Co-operative Bank Limited.
·The penalty was for contravention of the Banking Regulation Act, 1949, and non-compliance with RBI directions on housing schemes and KYC.
·The inspection of the bank was conducted with reference to its financial position as on March 31, 2025.