RBI imposes monetary penalty on The Panchkula Central Co-operative Bank Ltd., Haryana

News Financial services Sanctions & Fines

Date: 2nd Dec, 2024 Source: Reserve Bank of India Country: India Original Source

Brief

"On December 02, 2024, the Reserve Bank of India issued an update regarding RBI imposes monetary penalty on The Panchkula Central Co-operative Bank Ltd., Haryana. The bank was penalized ₹5 lakh for contravening provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949, due to failure to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time."

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Reserve Bank of India

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RBI imposes monetary penalty on The Panchkula Central Co-operative Bank Ltd., Haryana

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RBI imposes monetary penalty on The Panchkula Central Co-operative Bank Ltd., Haryana

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Reserve Bank of India

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