Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs. 5,00,000 on Kangra Central Co-operative Bank Limited, Kangra, Himachal Pradesh. The penalty was issued under Section 46(4) read with Section 47(A)(1)(b) of the Banking Regulation Act, 1949, as applicable to co-operative societies. The stated basis was violation of RBI instructions/guidelines regarding non-SLR investment.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Kangra, Himachal Pradesh
- Order Date