Case Brief
By an order dated April 18, 2022, RBI imposed a monetary penalty of Rs 25,00,000 on The Haryana State Co-operative Apex Bank Limited, Chandigarh. The penalty was imposed under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, after NABARD’s statutory inspection and RBI’s examination found non-compliance with RBI directions on housing finance, including the maximum limit on housing loans to an individual borrower.
Action Snapshot
- Primary Impact
- Fine: Rs 25.0 L
- Entity Type
- Co-operative bank
- Location
- Chandigarh
- Order Date