Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹5.00 lakh on Noble Co-operative Bank Limited, Noida, Uttar Pradesh, by order dated February 23, 2024. RBI said the bank had not complied with specific directions issued under the Supervisory Action Framework (SAF); the inspection and subsequent review showed that the bank sanctioned uncollateralised fresh loans and advances. 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 5.00 L
- Entity Type
- Co-operative bank
- Location
- Noida, Uttar Pradesh
- Order Date