Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹1.00 lakh on The Catholic Co-operative Urban Bank Ltd., Hyderabad, Telangana, under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The violation related to RBI directives and guidelines on loans and advances to directors and their relatives. RBI had issued a show-cause notice, reviewed the bank’s written reply, and concluded that the violations were substantiated and merited the penalty.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Telangana
- Order Date