RBI imposed ₹5 lakh monetary penalty on Himachal Pradesh Gramin Bank, Mandi for violations of Banking Regulation Act and RBI directions.
The bank failed to transfer eligible unclaimed amounts to Depositor Education and Awareness Fund and to pay interest on term deposits post‑maturity.
RBI's action follows NABARD inspection of the bank's March 31 2025 financial position and a show‑cause process, emphasizing compliance deficiencies.
Penalty imposed under Section 47A(1)(c) and Sections 46(4)(i), 51(1) of the Banking Regulation Act; further action may follow.