Case Brief
What Happened
The Reserve Bank of India imposed a penalty on Mahila Nagrik Sahakari Bank Maryadit, Mahasamund, Chhattisgarh for contravention of RBI directions on Exposure Norms & Statutory/ Other Restrictions for Urban Co-operative Banks. Inspection revealed breaches of the prudential inter-bank (Gross) exposure limit and the prudential inter-bank counterparty limit. RBI concluded the violations were substantiated and levied a monetary penalty of Rs 1.50 lakh under the Banking Regulation Act, 1949.