Recorded RBI impact
Monetary penalty
Monetary penalty · Fresh imposition
Published by RBI
2 Feb 2021
Case Brief
By orders dated January 29, 2021, the Reserve Bank of India imposed monetary penalties on Konnagar Samabaya Bank Limited and The Santragachi Co-operative Bank Limited. The basis stated in the release is contravention of / non-compliance with RBI directions on 'Exposure Norms and Statutory/Other Restrictions-UCBs'. The excerpt identifies two co-operative banks as the affected entities but does not include the specific penalty amounts in the provided text.
Why RBI Acted
RBI imposed monetary penalties on the named co-operative banks by orders dated January 29, 2021 for contravention of / non-compliance with the directions issued by RBI on 'Exposure Norms and Statutory/Other Restrictions-UCBs'. The release names two co-operative banks but does not provide individual penalty amounts in the excerpt provided.
Operating Impact
The two co-operative banks face a monetary penalty and the compliance finding remains part of their regulatory record. No operational restriction is described in the excerpt, but the banks are expected to address the underlying non-compliance with RBI exposure norms and related statutory restrictions.
Action Facts
- Primary Impact
- Monetary penalty
- Order Date
- 29 Jan 2021
- Effective From
- 29 Jan 2021
- Entities Affected
- 2
- Entity Role
- Primary
- Entity Type
- Co-operative bank
Related Entities
Entities similar to Konnagar Samabaya Bank Limited