Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹10,000 on The Jambusar People’s Co-operative Bank Ltd., Bharuch, Gujarat, for non-compliance with RBI directions on membership of Credit Information Companies by co-operative banks. Following a statutory inspection and a show-cause process, RBI concluded that the bank had failed to submit data to any of the CICs. The penalty was imposed under section 25 of the Credit Information Companies (Regulation) Act, 2005.
Action Snapshot
- Primary Impact
- Fine: Rs 10,000
- Entity Type
- Co-operative bank
- Location
- Bharuch, Gujarat
- Order Date