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NotificationRBIMonday, 24 August 2026

RBI imposes monetary penalty on Shri Vijay Mahantesh Co-operative Bank Limited, Hungund, 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 August 20, 2026, imposed a monetary penalty of ₹2.50 lakh (Rupees Two lakh Fifty thousand only) on Shri Vijay Mahantesh Co-operative Bank Limited, Hungund, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs’ and ‘Loans and advances to directors, their relatives, and firms / concerns in which they are
Key Facts
TypeNotification
SourceReserve Bank of India
PublishedMonday, 24 August 2026
Affected Population1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
Key Authorities
Ministry of FinanceRBISEBIDEA
Key Stakeholders
TaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
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Finance & Economy671 tracked→
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