Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 50,000 on The Navanirman Co-operative Urban Bank Ltd., Hyderabad, Telangana. RBI said the bank violated its directives/instructions/guidelines on exposure norms and statutory/other restrictions for urban co-operative banks. The action was taken under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies), after a show-cause notice, the bank's written reply, and a personal hearing.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Hyderabad, Telangana
- Order Date