Case Brief
RBI, by order dated June 15, 2026, imposed a monetary penalty of ₹1 lakh on The Chittoor District Co-operative Central Bank Ltd., Andhra Pradesh. The penalty was imposed after a statutory inspection by NABARD and a subsequent show-cause process, in which RBI held that the bank had sanctioned loans to directors, violating Section 20 read with Section 56 of the Banking Regulation Act, 1949. RBI stated that the penalty is based on deficiencies in statutory compliance and is without prejudice to any other action that may be initiated against the bank.
Action Snapshot
- Primary Impact
- Fine: Rs 1.00 L
- Entity Type
- Co-operative bank
- Location
- Chittoor, Andhra Pradesh
- Order Date