Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹5.00 lakh on The Ottapalam Co-operative Urban Bank Ltd., Ottapalam, Kerala. The penalty was levied for violation / non-compliance with RBI directions relating to income recognition, asset classification, provisioning and other related matters for urban co-operative banks, as well as KYC guidelines for primary (urban) co-operative banks, based on inspection findings as of March 31, 2020.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Ottapalam, Kerala
- Order Date