RBI Imposes Penalty on Samruddhi Sahakari Bank for Data Submission Lapse

The Reserve Bank of India (RBI) imposed a monetary penalty on Samruddhi Sahakari Bank Ltd., Nandgaon, for non‑compliance with data submission guidelines. The order, dated February 27, 2026, followed a supervisory review linked to the bank’s financials as of March 31, 2025.

RBI identified lapses in reporting customer credit information to Credit Information Companies (CICs), which forms a mandatory compliance requirement. After evaluating the bank’s reply and personal hearing, the regulator confirmed the violation and proceeded with the penalty under the Credit Information Companies (Regulation) Act, 2005.

RBI’s Regulatory Action and Penalty Basis

RBI invoked Section 25 of the Credit Information Companies (Regulation) Act, 2005 to impose the monetary penalty of ₹10,000. This provision empowers the regulator to act against entities that fail to adhere to CIC‑related reporting norms.

The action followed a structured supervisory process that included inspection findings and subsequent correspondence with the bank. RBI concluded that the non‑submission of credit data constituted a breach of mandatory regulatory directions.

Inspection Findings Leading to The Penalty

The statutory inspection covered the financial position of the bank as of March 31, 2025. During this assessment, RBI identified that the bank had not submitted credit information of its customers to any CIC.

This reporting gap affects the integrity and completeness of nationwide credit information systems. After noting this deviation, RBI issued a show‑cause notice to the bank detailing the lapse and seeking justification.

Importance Of Credit Information Submission

Submission of customer credit information to CICs is essential for maintaining an accurate national credit database. Such data enables effective credit assessment by financial institutions, supports risk management practices, and helps protect borrowers through transparent reporting.

Non‑submission may lead to data gaps that affect credit scoring across the ecosystem. RBI’s directions require all credit institutions to maintain timely and accurate reporting to ensure the system functions efficiently.

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Conclusion

RBI’s ₹10,000 penalty on Samruddhi Sahakari Bank Ltd. stemmed from its failure to submit customer credit information to CICs, as identified during inspection. The regulator followed due process through notices and hearings before concluding that the non‑compliance was established.

The action focused solely on regulatory lapses without affecting the validity of the bank’s transactions. RBI reiterated that further actions may follow if warranted under its supervisory scope.

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