RBI slaps Rs 10.10 lakh penalty on City Union Bank, 2 more entities
Business 22 May, 2026

RBI slaps Rs 10.10 lakh penalty on City Union Bank, 2 more entities

Business To Business, Mumbai, 22nd May, 2026:   The Reserve Bank of India (RBI) on Friday said it has imposed monetary penalties on City Union Bank, Mintifi Finserve, and Newa Investments for non-compliance with regulatory directions.
According to an RBI release, the central bank imposed a penalty of Rs 10.10 lakh on City Union Bank, Rs 3.10 lakh on Mintifi Finserve, and Rs 2.70 lakh on Newa Investments.
The RBI said the penalty on City Union Bank was imposed because the bank levied loan-related charges on certain agricultural advances that qualified as priority sector loans up to Rs 25,000. It also failed to report self-help group member-level data to credit information companies, as required under regulatory norms.
The central bank clarified that the penalties were based on deficiencies in regulatory compliance and were not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers.

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