Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹5 lakh on Transport Cooperative Bank Ltd, Indore 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 loan exposure norms, KYC norms, and compliance with the RBI Inspection Report. After a show-cause notice and the bank’s written reply, RBI concluded that the violations were substantiated and warranted penalty.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Indore
- Order Date