Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 2.00 lakh on Rajputana Mahila Urban Co-operative Bank Ltd., Jaipur under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The penalty was for violating Section 35(2) of the Act by not providing records, information, statements of accounts of various heads, and vouchers with supporting documents for verification. RBI had issued a show-cause notice, reviewed the bank's written reply, and found the violations substantiated.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- Co-operative bank
- Location
- Jaipur, Rajasthan
- Order Date