Case Brief
The Reserve Bank of India penalised Tirumala 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 violations related to RBI directives and guidelines on loans and advances to directors and their relatives, exposure norms and statutory/other restrictions, and donations/contributions for public or charitable purposes out of profits of UCBs. After a show-cause notice, the bank's written reply, and personal hearing, RBI held the violations to be substantiated and imposed a monetary penalty of ₹2.00 lakh.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Telangana