Case Brief
RBI, by order dated September 13, 2024, imposed a monetary penalty of ₹3.00 lakh on Lucknow University Primary Co-operative Bank Ltd., Lucknow. The penalty followed a statutory inspection and show-cause proceedings that found non-compliance with RBI’s direction on investments by Primary (Urban) Co-operative Banks, including breach of prudential inter-bank (gross) and counterparty exposure limits, under the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 3.00 L
- Entity Type
- Co-operative bank
- Location
- Lucknow, Uttar Pradesh
- Order Date