Case Brief
RBI imposed a penalty dated April 07, 2022 on The Nanded Merchant’s Co-operative Bank Ltd., Nanded, Maharashtra for contravention of RBI directions on Exposure Norms and Statutory/Other Restrictions on UCBs. The inspection report as of March 31, 2020 found that the bank had not adhered to the prudential inter-bank (Gross) exposure limit. After issuing a show-cause notice and considering the bank’s replies and oral submissions, RBI held the charge substantiated and levied a monetary penalty under the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Nanded, Maharashtra
- Order Date