RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S2

Press Releases Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

80946320

Reserve Bank of India imposes monetary penalty on Koyana Sahakari Bank Limited, Karad, Satara, Maharashtra

The Reserve Bank of India (RBI) has imposed, by an order dated March 22, 2021, a monetary penalty of ₹6 lakh (Rupees Six lakh only) on Koyana Sahakari Bank Limited, Karad (the bank) for contravention of the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI.

The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The inspection report of the bank based on its financial position as on March 31, 2019, revealed that the bank had exceeded prudential inter-bank (single bank) exposure limit. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions.

After considering the bank’s reply, RBI came to the conclusion that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)    
Chief General Manager

Press Release: 2020-2021/1283

RbiTtsCommonUtility

प्ले हो रहा है
শুনি আছে

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

ভাৰতীয় ৰিজাৰ্ভ বেংক মোবাইল এপ্পলিকেষ্যন ইনষ্টল কৰক আৰু নৱীনতম বাতৰিৰ প্ৰৱেশাধিকাৰ পাওক!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

এই পৃষ্ঠাটো সহায়ক আছিল নে?