Case Brief
The Reserve Bank of India penalised The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh, by imposing a monetary penalty of ₹50,000 under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The action followed a show-cause process, the bank’s written reply, and a personal hearing. RBI concluded that the violation of Section 27(2) of the Act was substantiated and warranted penalty.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Kuppam, Andhra Pradesh
- Order Date