Case Brief
RBI imposed a monetary penalty of ₹3.00 lakh on The Panchkula Urban Co-operative Bank Ltd., Panchkula for non-compliance with RBI directions on 'Exposure Norms and Statutory / Other Restrictions – UCBs'. Following a statutory inspection and show-cause proceedings, RBI concluded that the bank had breached prudential inter-bank exposure limits on both gross and counterparty basis. 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 3.00 L
- Entity Type
- Co-operative bank
- Location
- Panchkula, Haryana
- Order Date