Case Brief
By an order dated March 12, 2025, RBI imposed a monetary penalty of ₹1.00 lakh on The Anantnag Central Co-operative Bank Ltd., Jammu and Kashmir. The penalty followed supervisory findings that the bank had violated specific RBI directions prohibiting acceptance of fresh deposits. RBI stated that the action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, after considering the bank’s reply to a show-cause notice.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Anantnag, Jammu and Kashmir
- Order Date