Recorded RBI impact
Monetary penalty
Monetary penalty · Fresh imposition
Published by RBI
4 Dec 2020
Case Brief
The Reserve Bank of India imposed monetary penalties on three co-operative banks: The Berhampur Co-operative Urban Bank Ltd., The Boral Union Co-operative Bank Ltd., and The Khatra People’s Co-operative Bank Ltd. The stated basis is contravention of or non-compliance with RBI directions on “Exposure Norms and Statutory/Other Restrictions-UCBs”. The excerpt does not provide the separate penalty amounts for each bank or the specific factual findings against each institution.
Why RBI Acted
RBI imposed monetary penalties on three co-operative banks for contravention of and/or non-compliance with RBI’s directions on “Exposure Norms and Statutory/Other Restrictions-UCBs”. The provided text does not include the individual penalty amounts or bank-wise detailed findings.
Operating Impact
The affected co-operative banks face monetary penalties and a compliance signal from RBI regarding adherence to exposure norms and statutory restrictions applicable to urban co-operative banks. No operational restriction is described in the excerpt; the forward-looking impact is mainly financial and supervisory, with continued expectation of compliance with RBI directions.
Action Facts
- Primary Impact
- Monetary penalty
- Entities Affected
- 3
- Entity Role
- Bulk Member
- Entity Type
- Co-operative bank
Related Entities
Entities similar to The Boral Union Co-operative Bank Ltd