Case Brief
RBI imposed a monetary penalty on The District Co-operative Central Bank Ltd., Warangal, Telangana, after a statutory inspection by NABARD found that the bank had sanctioned director-related loans, contrary to Section 20 read with Section 56 of the Banking Regulation Act, 1949. After a show-cause process and hearing, RBI concluded that the charge was sustained and levied the penalty under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Warangal, Telangana
- Order Date