Case Brief
The Reserve Bank of India penalized The Rajlaxmi Mahila Urban Co-operative Bank Limited, Jaipur with a monetary penalty of Rs 1.00 lakh under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). RBI said the bank violated directives/guidelines on unsecured advances, IRAC norms, and OBC charges. After issuing a show-cause notice and considering the bank's reply and personal submissions, RBI concluded that the violations were substantiated and warranted the penalty.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Jaipur, Rajasthan
- Order Date