Case Brief
By an order dated June 25, 2026, RBI imposed a monetary penalty of ₹5 lakh on The Citizens Urban Cooperative Bank Ltd., Jalandhar, Punjab. The penalty was imposed for non-compliance with RBI directions on exposure norms and statutory/other restrictions, and on the comprehensive cyber security framework for primary urban co-operative banks. RBI found that the bank sanctioned loans beyond the prescribed regulatory limit to certain nominal members and failed to implement two-factor authentication for access to the Core Banking Solution.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Co-operative bank
- Location
- Jalandhar, Punjab
- Order Date