Case Brief
By an order dated April 06, 2022, RBI imposed a monetary penalty of ₹1.00 lakh on Mahesh Urban Co-operative Bank Ltd., Ahmedpur, Maharashtra under Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949. The bank was found to have failed to comply with RBI’s Directions to Urban Co-operative Banks on Exposure Norms & Statutory/Other Restrictions-UCBs, specifically by not adhering to the prudential inter-bank (gross) exposure limit. RBI issued a show-cause notice, considered the bank’s replies and oral submissions, and concluded that the violation was substantiated.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Ahmedpur, Maharashtra