RBI imposes monetary penalty on The Raichur District Central Co-operative Bank Ltd., Karnataka

News Financial services Sanctions & Fines

Date: 28th Nov, 2024 Source: Reserve Bank of India Country: India Original Source

Brief

"On November 28, 2024, the Reserve Bank of India issued an update regarding RBI imposes monetary penalty on The Raichur District Central Co-operative Bank Ltd., Karnataka. RBI imposed a monetary penalty of ₹50,000 on the bank for contravening provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949."

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Reserve Bank of India

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RBI imposes monetary penalty on The Raichur District Central Co-operative Bank Ltd., Karnataka

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RBI imposes monetary penalty on The Raichur District Central Co-operative Bank Ltd., Karnataka

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Reserve Bank of India

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