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Regulatory actions in Chronological Order

REGULATORY ACTIONS IN CHRONOLOGICAL ORDER

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

ENTITY

S.
No.

DATE OF ORDER

ENTITY

PERSON

COMPETENT AUTHORITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

25-AUG-2026

CITIZENS CO-OPERATIVE BANK LTD.,THE

RBI

DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1949

RESTRAINED FROM GRANTING OR RENEWING ANY LOAN /ADVANCES, MAKE ANY INVESTMENT, INCUR ANY LIABILITIES INCLUDING BORROWAL OF FUNDS AND ACCEPTANCE OF FRESH DEPOSITS, DISBURSE OR AGREE TO DISBURSE ANY PAYMENT WHETHER IN DISCHARGE OF ITS LIABILITIES AND OBLIGATIONS OR OTHERWISE, ENTER INTO ANY COMPROMISE OR ARRANGEMENT AND SELL, TRANSFER OR OTHERWISE DISPOSE OF ANY OF ITS PROPERTIES OR ASSETS FROM 27-AUG-2026 TO 26-FEB-2027

25-AUG-2026

25-AUG-2026

DESAIGANJ NAGARI CO-OPERATIVE BANK MARYADIT

RBI

DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1949

25-AUG-2026

JALNA DISTRICT CENTRAL CO-OPERATIVE BANK LTD.

RBI

DID NOT SUBMIT DATA TO ANY OF THE FOUR CREDIT INFORMATION COMPANIES (AT MONTHLY AND/OR SHORTLY INTERVALS)

DID NOT REVIEW RISK CATEGORISATION OF ITS CUSTOMERS

IMPOSED PENALTY RS.50,000

25-AUG-2026

20-AUG-2026

PRAGATHI CO-OPERATIVE BANK LTD.,THE

RBI

VIOLATED RBI�S DIRECTIVES ON LOANS TO DIRECTORS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON SINGLE BORROWER EXPOSURE LIMIT AND/OR UNSECURED INDIVIDUAL BORROWER LIMIT

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON PRUDENTIAL INTER-BANK (GROSS) EXPOSURE LIMITS AND/OR INTER-BANK COUNTER PARTY EXPOSURE LIMITS

IMPOSED PENALTY RS.2,00,000

20-AUG-2026

20-AUG-2026

SHRI VIJAY MAHANTESH CO-OPERATIVE BANK LTD.

RBI

DID NOT CORRECTLY CLASSIFY CERTAIN BORROWERS AS NON-PERFORMING ASSETS (NPAS)

VIOLATED RBI�S DIRECTIVES ON LOANS TO DIRECTORS

IMPOSED PENALTY RS.2,50,000

20-AUG-2026

20-AUG-2026

VIKAS SOUHARDA CO-OPERATIVE BANK LTD.

RBI

DID NOT CORRECTLY CLASSIFY CERTAIN BORROWERS AS NON-PERFORMING ASSETS (NPAS)

IMPOSED PENALTY RS.1,00,000

20-AUG-2026

19-AUG-2026

PROGFIN PVT.LTD.

RBI

DID NOT PUT IN PLACE A SYSTEM OF RISK CATEGORISATION OF ACCOUNTS

IMPOSED PENALTY RS.2,70,000

19-AUG-2026

19-AUG-2026

SHRI RAM FINANCE CORP.PVT.LTD.

RBI

DID NOT OBTAIN PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN MANAGEMENT RESULTING IN CHANGE IN MORE THAN 30% OF THE DIRECTORS, EXCLUDING INDEPENDENT DIRECTORS

DID NOT CATEGORIZE CUSTOMERS AS LOW, MEDIUM OR HIGH RISK CATEGORY

DELAY IN UPLOADING KNOW YOUR CLIENTS (KYC) RECORDS OF CERTAIN CUSTOMERS� ACCOUNTS ON CENTRAL KNOW YOUR CLIENTS (KYC) RECORDS REGISTRY

IMPOSED PENALTY RS.8,10,000

19-AUG-2026

14-AUG-2026

FUSION FINANCE LTD.

(CIN:L65100DL1994PLC061287)

RBI

DID NOT PUT IN PLACE A SYSTEM OF RISK CATEGORISATION OF ACCOUNTS

IMPOSED PENALTY RS.2,70,000

14-AUG-2026

14-AUG-2026

INDUSIND BANK LTD.

(PAN:AAACI1314G)

RBI

PAID INTEREST ON DEPOSIT HELD IN CERTAIN CURRENT ACCOUNTS

UNDERTOOK ACTIVITIES IN SYNTHETIC SECURITISATION

IMPOSED PENALTY RS.59,20,000

14-AUG-2026

14-AUG-2026

MUTHOOT MCRED LTD.

RBI

CLASSIFIED CERTAIN LOAN ACCOUNTS WHICH WERE NPA AS �STANDARD ASSET� WITHOUT REALISATION OF ENTIRE ARREARS OF INTEREST AND PRINCIPAL AMOUNT DUE

IMPOSED PENALTY RS.3,10,000

14-AUG-2026

14-AUG-2026

NORTHERN ARC CAPITAL LTD.

RBI

DID NOT DISCLOSE CORRECT AND COMPLETE INFORMATION ABOUT CUSTOMER COMPLAINTS IN ANNUAL FINANCIAL STATEMENTS

DID NOT ESTABLISH SYSTEM OF AUTO-ESCALATION OF ALL COMPLAINTS THAT WERE PARTLY OR WHOLLY REJECTED BY ITS INTERNAL GRIEVANCE REDRESS MECHANISM TO INTERNAL OMBUDSMAN FOR A FINAL DECISION

IMPOSED PENALTY RS.6,20,000

14-AUG-2026

11-AUG-2026

JILLA SAHAKARI KENDRIYA BANK MARYADIT

RBI

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE UNCLAIMED FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND WITHIN PRESCRIBED PERIOD

IMPOSED PENALTY RS.2,50,000

11-AUG-2026

11-AUG-2026

VALUEFIN INDIA CREDIT SERVICES PVT.LTD.

RBI

DID NOT TAKE PRIOR WRITTEN PERMISSION OF RBI FOR CHANGE IN SHAREHOLDING MORE THAN 26% OF PAID-UP EQUITY CAPITAL

IMPOSED PENALTY RS.1,80,000

11-AUG-2026

06-AUG-2026

AMRAVATI DISTRICT CENTRAL CO-OPERATIVE BANK LTD.,THE

RBI

ALLOTTED MULTIPLE CUSTOMER IDENTIFICATION CODES TO SAME CUSTOMERS

LEVIED SMS ALERT CHARGES WITHOUT SENDING SMS TO CERTAIN CUSTOMERS

IMPOSED PENALTY RS.50,000

06-AUG-2026

03-AUG-2026

INFINITY FINCORP SOLUTIONS PVT.LTD.

RBI

DID NOT PUT IN PLACE A SYSTEM OF RISK CATEGORISATION OF ACCOUNTS

DID NOT MAKE DISCLOSURE OF THE APPROACH FOR GRADATION OF RISK AND RATIONALE FOR CHARGING DIFFERENT RATE OF INTEREST TO DIFFERENT CATEGORIES OF BORROWERS IN THE APPLICATION FORMS AND SANCTION LETTERS

IMPOSED PENALTY RS.5,40,000

03-AUG-2026

03-AUG-2026

KEDARNATH URBAN CO-OPERATIVE BANK LTD.

RBI

DELAY IN UPLOADING KNOW YOUR CLIENTS (KYC) RECORDS OF CERTAIN CUSTOMERS� ACCOUNTS ON CENTRAL KNOW YOUR CLIENTS (KYC) RECORDS REGISTRY

OFFERED INTEREST RATES ON CERTAIN DEPOSITS FOR VARIOUS DURATIONS HIGHER THAN THOSE OFFERED BY SBI IN NON-COMPLIANCE WITH SAF DIRECTIONS

IMPOSED PENALTY RS.40,000

03-AUG-2026

03-AUG-2026

NAMDEV FINVEST LTD.

(Old Name : NAMDEV FINVEST PVT.LTD.)

RBI

DID NOT PUT IN PLACE ROBUST SOFTWARE FOR EFFECTIVE IDENTIFICATION AND REPORTING OF SUSPICIOUS TRANSACTIONS

IMPOSED PENALTY RS.2,70,000

03-AUG-2026

03-AUG-2026

UTSAV SECURITIES LTD.

(Old Name : UTSAV SECURITIES PVT.LTD.)

RBI

KEY MANAGEMENT PERSONNEL (KMP)/MANAGING DIRECTOR HELD DIRECTORSHIP IN OTHER NBFCS-MIDDLE LAYER

DID NOT SUBMIT DATA TO ANY OF THE FOUR CREDIT INFORMATION COMPANIES (AT MONTHLY AND/OR SHORTLY INTERVALS)

IMPOSED PENALTY RS.3,90,000

03-AUG-2026

28-JUL-2026

KOSIAN INDUSTRIES LTD.

(New Name : SEVEN HILL INDUSTRIES LTD.)

(Old Name : KOSIAN FINANCE LTD.)

RBI

DID NOT ADHERE TO PROVISIONS OF RBI ACT, 1934

CANCELLED CERTIFICATE OF REGISTRATION

28-JUL-2026

The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.