Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹200,000 on The Tadpatri Co-operative Town Bank Ltd., Tadpatri, Andhra Pradesh. 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), after RBI issued a show-cause notice, received the bank's written reply, and provided a personal hearing. RBI concluded that violations of section 6(1)(g) and section 6(1)(k) read with section 56 of the Act were substantiated.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- Co-operative bank
- Location
- Tadpatri, Andhra Pradesh
- Order Date