Case Brief
The Reserve Bank of India imposed a monetary penalty on The Karimnagar Co-operative Urban Bank Ltd., Karimnagar, Telangana, after finding violation of RBI directives/guidelines/instructions regarding submission of a compliance report. The penalty was imposed under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies), following a show-cause notice and consideration of the bank’s written reply.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Karimnagar, Telangana
- Order Date