RBI imposes monetary penalty on Mahila Co-operative Bank Ltd., Bangalore, Karnataka
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Official government notification — a formal executive order that operationalises policy decisions. Carries legal weight and specifies rules, dates, exemptions, or procedural requirements.
Summary
The Reserve Bank of India (RBI) has, by an order dated June 11, 2026, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Mahila Co-operative Bank Ltd., Bangalore, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with
Key Facts
TypeNotification
SourceReserve Bank of India
PublishedMonday, 15 June 2026
Affected Population~850 million internet users, 75,000+ startups
Key Numbers
Rs 15,000 crore for Digital India initiatives
UPI: 14 billion monthly transactions
850 million+ Aadhaar-linked mobiles
GDP: $3.9 trillion (2025 est.)
Key Authorities
Ministry of Electronics & ITTRAICERT-InMinistry of FinanceRBI
Key Stakeholders
Internet UsersTech CompaniesStartupsTaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
Amendment History
1 change recorded for this policy.
DescriptionThursday, 18 June 2026via rbi
The Reserve Bank of India (RBI) has, by an order dated June 11, 2026, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Mahila Co-operative Bank Ltd., Bangalore, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms / concerns in which they are interested’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with
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