Case Brief
RBI imposed a monetary penalty of ₹25,00,000 on Shikshak Sahakari Bank Limited, Nagpur, after its inspection and supervisory review found non-compliance with RBI directions on limits on exposure to single and group borrowers. RBI said the sustained charge was that the bank renewed credit facilities of two groups of borrowers in excess of the prescribed prudential exposure limit. The action was taken 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 25.0 L
- Entity Type
- Co-operative bank
- Location
- Nagpur, Maharashtra
- Order Date