Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹1.00 lakh on Dholpur Urban Co-operative Bank Limited, Dholpur, after finding that violations of RBI guidelines/directives on Know Your Customer (KYC) and Anti-Money Laundering (AML) were substantiated. The penalty was imposed under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies), following a show-cause notice, the bank's written reply, and a personal hearing.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Dholpur
- Order Date