Case Brief
By an order dated February 18, 2025, RBI imposed a monetary penalty of ₹50,000 on The Guntur District Co-operative Central Bank Ltd., Andhra Pradesh. The penalty was levied under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, following a statutory inspection by NABARD and a subsequent show-cause notice. RBI found that the bank had failed to publish its accounts and balance-sheet for FY 2022-23 and had also failed to furnish copies of the same to RBI/NABARD within the prescribed timeline.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Andhra Pradesh
- Order Date