Case Brief
By order dated September 05, 2024, RBI imposed a monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Raipur, Chhattisgarh. The penalty was imposed under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 after NABARD's statutory inspection and subsequent supervisory proceedings found that the bank had contravened section 26A read with section 56 by not transferring eligible amounts to the Depositor Education and Awareness Fund within the prescribed period.
Action Snapshot
- Primary Impact
- Fine: Rs 1.50 L
- Entity Type
- Co-operative bank
- Location
- Raipur, Chhattisgarh
- Order Date