Case Brief
By an order dated December 05, 2024, RBI imposed a monetary penalty on Zila Sahkari Bank Ltd., Mirzapur after a NABARD inspection and a show-cause process. RBI found that the bank contravened provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 by failing to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Mirzapur, Uttar Pradesh
- Order Date