Bank of Maharashtra has disclosed that the Reserve Bank of India (RBI) has imposed a monetary penalty on the bank. This action stems from observations made during the Statutory Inspection for Supervisory Evaluation (ISE 2025) conducted by the RBI, referencing the bank’s financial position as of March 31, 2025. The penalty amount is ₹32.50 lakh, related to non-compliance issues concerning ‘Credit information reporting’ for Self Help Group members and ‘Know Your Customer’ norms.
Regulatory Penalty Disclosure
Bank of Maharashtra confirmed receipt of a communication from the Reserve Bank of India (RBI) on February 13, 2026, detailing the imposition of a monetary penalty. This disclosure, made via a press release, details the outcome of regulatory oversight concerning the bank’s operations.
Basis for Penalty and Financial Impact
The penalty was levied due to non-compliance with certain provisions of directions issued by the RBI. Specifically, the issues identified related to the reporting of credit information concerning ‘Self Help Group members’ and adherence to ‘Know Your Customer’ guidelines.
The total financial penalty imposed amounts to Rs. 32.50 lakh (Rupees Thirty-Two Lakh Fifty Thousand Only). The bank noted that this outcome has Non-material expected financial implications.
Inspection Context and Remedial Actions
The underlying trigger for the penalty was the Statutory Inspection for Supervisory Evaluation (ISE 2025) conducted by the RBI, focusing on the bank’s financial position as of March 31, 2025.
Bank of Maharashtra has affirmed that it has already taken the necessary preventive actions for further strengthening its internal processes to prevent the recurrence of such events in the future.
Source: BSE
