Case Brief
By an order dated May 02, 2025, RBI imposed a monetary penalty of Rs 50,000 on Siddheshwar Urban Co-operative Bank Maryadit, Sillod, Aurangabad, Maharashtra. The action followed a supervisory inspection and subsequent show-cause proceedings, which found non-compliance with RBI directions on placement of deposits with other banks by primary urban co-operative banks. RBI specifically noted that the bank had breached the prudential inter-bank (gross) exposure limit. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.
Action Snapshot
- Primary Impact
- Fine: Rs 50,000
- Entity Type
- Co-operative bank
- Location
- Sillod, Maharashtra
- Order Date