Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹15.00 lakh on The Citizens Urban Cooperative Bank Ltd., Jalandhar, by order dated March 27, 2025. RBI said the penalty followed a statutory inspection and subsequent proceedings that found the bank had not complied with specific directions issued under its Supervisory Action Framework. The bank was found to have sanctioned/renewed loans and advances to single borrowers beyond the applicable regulatory limits and to have offered interest rates on term deposits and savings deposits higher than those offered by State Bank of India. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Action Snapshot
- Primary Impact
- Fine: Rs 15.0 L
- Entity Type
- Co-operative bank
- Location
- Jalandhar, Punjab