RBI imposes monetary penalty on Agartala Co-operative Urban Bank Limited, Tripura

Case Brief

RBI imposed a monetary penalty on Agartala Co-operative Urban Bank Limited, Agartala, Tripura for non-compliance with RBI directions on 'Exposure Norms and Statutory/ Other Restrictions - UCBs'. Following a statutory inspection and subsequent show-cause process, RBI found that the bank had breached the prudential inter-bank (gross) exposure limit and the prudential inter-bank counterparty limit. The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.