Case Brief
RBI imposed a monetary penalty of Rs 25,000 on The Vejalpur Nagarik Sahkari Bank Ltd., Vejalpur, dist. Panchmahal, Gujarat. The bank was found non-compliant with RBI directions governing placement of deposits with other banks by primary urban co-operative banks, after RBI's statutory inspection revealed a breach of the inter-bank counterparty exposure limit. The penalty was levied under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 25,000
- Entity Type
- Co-operative bank
- Location
- Vejalpur, Gujarat
- Order Date