Case Brief
What Happened
The Reserve Bank of India imposed a penalty of Rs 0.50 lakh on The Sind Co-operative Urban Bank Ltd., Hyderabad, Telangana under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies). RBI said the bank had violated its directives and guidelines on Exposure Norms and Statutory/Other Restrictions. After a show-cause notice, written reply, and personal hearing, RBI concluded the violations were substantiated and warranted penalty.