Case Brief
RBI imposed a monetary penalty on The District Co-operative Central Bank Ltd., Mahabubnagar, Telangana for non-compliance with NABARD directions relating to review, classification, reporting and monitoring of frauds. Following statutory inspection, RBI concluded that the bank had failed to report fraud cases to NABARD within the required timeline, and therefore imposed a penalty under the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 10,000
- Entity Type
- Co-operative bank
- Location
- Mahabubnagar, Telangana
- Order Date