Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 5 lakh on Kodagu District Co-operative Central Bank Ltd., Madikeri, N. Kodagu (Karnataka) under Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS). RBI said the bank had violated regulatory guidelines issued on Non-SLR investments. After considering the bank's reply to the show-cause notice and its personal submissions, RBI concluded that the contraventions were substantiated and warranted penal action.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Madikeri, Karnataka
- Order Date