Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 5.00 lakh on The Hyderabad District Co-operative Central Bank Ltd., Andhra Pradesh under the Banking Regulation Act, 1949 (as applicable to co-operative societies). The RBI said the bank had not adhered to KYC norms and AML guidelines. After issuing a show-cause notice and considering the bank's reply and personal submissions, the RBI concluded that the violation was substantiated and warranted penal action.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Andhra Pradesh
- Order Date