Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 2,00,000 on Dilip Urban Co-operative Bank Ltd., Barshi, Solapur (Maharashtra), under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The penalty was for violation of RBI instructions/guidelines regarding investment and prudential limits on Non-SLR investment. RBI had issued a show-cause notice, considered the bank’s written reply, and concluded that the violations were substantiated and merited penalty.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- Co-operative bank
- Location
- Barshi, Maharashtra
- Order Date