Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹1,00,000 on Noble Co-operative Bank Limited, Noida, Uttar Pradesh. The action was taken under Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies) for violation of RBI instructions/guidelines on classification and reporting of frauds. RBI issued a show cause notice, considered the bank’s written reply and personal hearing, and concluded that the violations were substantiated and warranted penalty.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Noida, Uttar Pradesh
- Order Date