Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹1 lakh on Ravi Commercial Urban Co-operative Bank Ltd., Nagpur by order dated September 16, 2022. RBI said the bank contravened directions applicable to urban co-operative banks on exposure norms and on interest rate on deposits, after a risk assessment found non-compliance with the prudential inter-bank gross exposure limit and failure to pay post-maturity interest on unclaimed term deposits during repayment.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Nagpur, Maharashtra
- Order Date