Case Brief
The Reserve Bank of India imposed a monetary penalty on National Urban Co-operative Bank Ltd., Bahraich, under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949. RBI said the bank violated instructions relating to delay in submission of compliance to an Inspection Report, KYC guidelines, supervisory instructions under Section 36(1), membership of credit information companies, and prudential norms on inter-bank gross and counter-party exposure limits. After considering the bank’s reply to the show-cause notice, RBI held that the violations were substantiated and imposed a penalty of ₹1,00,000.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Bahraich, U.P.