Case Brief
By an order dated April 19, 2021, RBI imposed a monetary penalty of ₹0.50 lakh on Dhule & Nandurbar Jilha Sarkari Nokaranchi Sahakari Bank Ltd., Dhule, Maharashtra. The penalty was imposed after an inspection based on the bank's financial position as on March 31, 2019, which revealed contravention/non-compliance with RBI directions issued to Urban Co-operative Banks on Exposure Norms and Statutory/Other Restrictions. RBI issued a show-cause notice, considered the bank's reply, and concluded that the non-compliance was substantiated, warranting penalty under the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 5,000
- Entity Type
- Co-operative bank
- Location
- Dhule, Maharashtra