Case Brief
RBI imposed a monetary penalty on The Bantra Co-operative Bank Ltd. by order dated April 26, 2023. The penalty was for contravention of RBI directions applicable to Urban Cooperative Banks relating to exposure norms and statutory/other restrictions, as well as KYC Directions, 2016. RBI said the bank breached inter-bank, gross, and counterparty exposure limits and failed to carry out periodic review of the risk categorisation of accounts. The action was taken under the Banking Regulation Act after the bank’s reply, additional submissions, and oral hearing were considered.
Action Snapshot
- Primary Impact
- Fine: Rs 30,000
- Entity Type
- Co-operative bank
- Location
- Howrah, West Bengal