Case Brief
The Reserve Bank of India imposed a monetary penalty of Rs 50,000 on Krishna Mercantile Co-operative Bank Ltd., Bhopal (M.P.) by order dated November 09, 2022. The penalty was for contravention / non-compliance with RBI directions to urban co-operative banks on Exposure Norms & Statutory/Other Restrictions, after RBI found the bank had exceeded the prudential inter-bank (gross) exposure limit. RBI said the action was based on regulatory deficiencies and not intended to pronounce on the validity of transactions with customers.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Bhopal, M.P.
- Order Date