Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 1 lakh on The Sawaimadhopur Urban Co-operative Bank Limited, Sawaimadhopur under Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS). The violation related to RBI directives/guidelines on the ceiling on unsecured advances applicable to urban co-operative banks. RBI issued a show-cause notice, reviewed the bank's written reply and personal submissions, and concluded that the violations were substantiated.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Sawaimadhopur, Rajasthan
- Order Date