RBI imposes monetary penalty on Navapur Mercantile Co-operative Bank Ltd., Nandurbar, Maharashtra
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Summary
The Reserve Bank of India (RBI) has, by an order dated June 16, 2026, imposed a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on Navapur Mercantile Co-operative Bank Ltd., Nandurbar, Maharashtra (the bank) for contravention of provisions of Section 35(2) read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.