The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 10.10 lakh on Raigad District Central Co-operative Bank Ltd., Maharashtra, for violating provisions of the Banking Regulation Act, 1949, and RBI directions on the membership of Credit Information Companies (CICs).

The penalty follows a statutory inspection conducted by NABARD based on the bank's financial position as of March 31, 2025. RBI found that the bank had sanctioned a director-related loan and failed to report borrowers' credit information to all Credit Information Companies, resulting in regulatory non-compliance.

The central bank clarified that the penalty relates to deficiencies in statutory and regulatory compliance and does not affect the validity of any transactions or agreements entered into by the bank with its customers. It added that the action is without prejudice to any further regulatory measures that may be initiated against the bank.