Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 1,00,000 on Nagar Sahkari Bank Ltd., Etawah (Uttar Pradesh) under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). The penalty followed a show-cause notice and consideration of the bank's written reply. RBI concluded that the violations were substantiated, specifically citing breaches of Prudential Norms on Inter-bank Gross Exposure and Counter Party Limit.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Etawah, Uttar Pradesh
- Order Date