The Chittoor Co-operative Town Bank Limited

RBI imposed a ₹1 lakh penalty on The Chittoor Co-operative Town Bank Ltd., Andhra Pradesh. The bank was found non-compliant with exposure norms and KYC record-upload requirements.

The bank must absorb the financial penalty and address the compliance lapses identified by RBI. There is no stated operational restriction on business, but the findings may expose the bank to further regulatory action if similar breaches continue. Customers are not directly restricted by this order.

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

RBI imposed a Rs 6 lakh penalty on The Chittoor Co-operative Town Bank Limited, Chittoor, Andhra Pradesh. The bank was found to have violated directions on DEA Fund transfers, gold-loan norms, and KYC/AML/CFT compliance.

The bank must absorb the penalty and address the compliance weaknesses identified by RBI. Going forward, it needs to strengthen DEA Fund transfer processes, credit and gold-loan controls, and KYC/AML/CFT checks to avoid further supervisory action. The action does not itself impose an operational ban, but it signals heightened regulatory scrutiny on the bank’s lending and compliance practices.

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

RBI imposed a penalty of Rs 50,000 on The Chittoor Co-operative Town Bank Ltd., Chittoor, Andhra Pradesh. The bank failed to transfer unclaimed deposits to the Depositor Education and Awareness Fund as required.

The bank must absorb the penalty and comply with RBI requirements on transfer of unclaimed deposits going forward. The action does not impose a wider operating restriction, but it signals regulatory scrutiny over depositor-protection and compliance obligations.

• Section 47A (1) (c) read with sub-section 4 of Section 46 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• section 26(A) of the Banking Regulation Act

RBI imposed a monetary penalty on The Chittoor Co-operative Town Bank Ltd., Chittoor, Andhra Pradesh. The action was taken for violations of RBI rules on loans and advances to directors and their relatives.

The bank must absorb the penalty and ensure future compliance with RBI’s rules on lending to directors and their relatives. The action does not indicate any restriction on operations beyond the monetary penalty, but it signals heightened compliance expectations for governance and related-party lending.

• Section 47A (1) (c) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)