Surat: The Reserve Bank of India (RBI), by an order dated August 28, 2025, has imposed a monetary penalty of ₹18.30 lakh (Rupees Eighteen Lakh Thirty Thousand only) on The Surat People’s Co-operative Bank Limited, Surat, for non-compliance with RBI directions on “Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) – UCBs.” The penalty has been imposed under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The action follows a statutory inspection of the bank conducted with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance, a notice was issued to the bank, asking it to show cause why a penalty should not be imposed. After reviewing the bank’s written and oral submissions, RBI concluded that the bank had failed to report credit information relating to certain borrowers to the CRILC within the prescribed time frame.

RBI clarified that the penalty is based on deficiencies in regulatory compliance and does not affect the validity of any transactions or agreements entered into by the bank with its customers. The imposition of penalty is without prejudice to any other regulatory action that may be taken by RBI against the bank. DeshGujarat