RBI imposes monetary penalty on The Sundargarh District Central Co-operative Bank Ltd., Odisha

News Financial services Sanctions & Fines

Date: 21st Nov, 2024 Source: Reserve Bank of India Country: India Original Source

Brief

"On November 21, 2024, the Reserve Bank of India issued an update regarding RBI imposes monetary penalty on The Sundargarh District Central Co-operative Bank Ltd., Odisha. A monetary penalty of ₹3.00 lakh was imposed for contravention of provisions and non-compliance with directions on Know Your Customer (KYC) norms, loan sanction to directors, unclaimed amounts transfer, and customer due diligence procedure."

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RBI imposes monetary penalty on The Sundargarh District Central Co-operative Bank Ltd., Odisha

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RBI imposes monetary penalty on The Sundargarh District Central Co-operative Bank Ltd., Odisha

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Reserve Bank of India

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