Case Brief
The Reserve Bank of India penalised Kedarnath Urban Co-operative Bank Ltd., Latur, Maharashtra by Rs 40,000 after a statutory inspection and subsequent show-cause process. RBI said the bank failed to upload customer KYC records to CKYCR within the prescribed timeline and also offered interest rates on certain deposits higher than those of the State Bank of India, contrary to directions issued under the Supervisory Action Framework (SAF).
Action Snapshot
- Primary Impact
- Fine: Rs 40,000
- Entity Type
- Co-operative bank
- Location
- Latur, Maharashtra
- Order Date