Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 1.00 lakh on Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra under Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS). RBI found that the bank had violated directives on exposure limits, unsecured loans, and loans to directors/related parties. After considering the bank’s written reply to the show-cause notice, RBI concluded that the violations were substantiated and justified the penalty.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Solapur, Maharashtra
- Order Date