Sree Harihareshwara Urban Co-operative Bank Limited

RBI imposed a ₹50,000 penalty on Sree Harihareshwara Urban Co-operative Bank Limited, Harihar, Karnataka. The action was for failing to submit statutory returns to RBI on time.

The bank must bear the monetary penalty, and the order may be followed by further RBI action if warranted. The release does not describe any restriction on banking operations, but it signals continued supervisory scrutiny over statutory reporting compliance.

• Section 31 read with Section 56 of the Banking Regulation Act, 1949 (BR Act)
• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act

RBI imposed a monetary penalty of Rs 50,000 on Sree Harihareshwara Urban Co-operative Bank Limited, Harihar, Karnataka. The action followed findings of non-compliance with RBI exposure norms.

The bank must absorb the penalty and remain compliant with RBI exposure norms and related prudential limits going forward. The order does not invalidate customer transactions, but RBI has reserved the right to initiate any further action if warranted.

• section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949