Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹2,00,000 on National Urban Co-operative Bank Ltd., Bahraich under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The penalty was levied for continuous non-submission of returns under Section 27 of the Act. RBI had issued a show-cause notice, but the bank did not submit a reply, and the violation was found substantiated.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- Co-operative bank
- Location
- Bahraich
- Order Date