Case Brief
RBI imposed a monetary penalty of ₹50,000 on Mandya District Co-operative Central Bank Ltd., Karnataka by order dated July 17, 2026. The penalty followed a statutory inspection by NABARD and a show-cause process, after which RBI found that the bank had held shares in other co-operative societies in contravention of section 19 read with section 56 of the Banking Regulation Act, 1949. 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
- Mandya, Karnataka
- Order Date