Case Brief
The Reserve Bank of India imposed a monetary penalty on The Ananthapuramu Co-operative Urban Bank Ltd., Ananthapuramu, Andhra Pradesh under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The bank was penalised for violating RBI directives/instructions/guidelines on exposure norms and statutory/other restrictions applicable to urban co-operative banks. RBI said it had issued a show cause notice, considered the bank's written reply and personal hearing, and concluded that the violations were substantiated.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Ananthapuramu, Andhra Pradesh