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RBI imposes monetary penalty on The Chikhli Urban Co-operative Bank Limited, Chikhli, Maharashtra
Quick answerThe Reserve Bank of India imposed a monetary penalty on The Chikhli Urban Co-operative Bank Limited, Chikhli, Maharashtra (announced Mon, 13 Jul 2026) for non-compliance with its directions. Read the official RBI press release for the exact amount and the specific provisions contravened.
Cited reason (from the official RBI press release)for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Finance for Housing Schemes – UCBs’, and ‘Know Your Customer (KYC)’.
What it means for bankers
RBI monetary penalties follow a statutory show-cause and inspection process and are compliance signals, not commentary on the bank's solvency or on its customers' deposits. They typically flag lapses in areas such as KYC/AML, exposure norms, IRAC/asset classification or deposit-account rules. Tracking the pattern of penalties across entities helps compliance teams benchmark their own controls.
Key dataSee the full RBI penalty tracker and related live dashboards: NPA / asset quality · Bank health scores.
Key termsPlain-English definitions: KYC / AML · Master Direction · GNPA — see the full Indian banking glossary.
Explore the rulesThe RBI rules behind penalties, simplified for bankers: KYC / AML, Co-operative Banks, Digital Payments / UPI.
Last reviewed by BankPulse Expert Review Panel
Source: official RBI press release, rbi.org.in. BankPulse does not reproduce RBI text verbatim. Reviewed by our expert review panel. Last updated 13 Jul 2026, 19:38 IST.