The Kuppam Co-operative Town Bank Ltd

RBI imposed a ₹5 lakh penalty on The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh. The action was for non-compliance with RBI directions and repeated failure to submit required returns.

The bank must absorb the financial penalty and address the compliance failures cited by RBI. The release does not announce any operational restriction, but it signals regulatory non-compliance in reporting and adherence to directions that may invite further scrutiny.

• Section 47A (1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 27(2) of the Act ibid

RBI imposed a monetary penalty of ₹50,000 on The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh. The penalty was for violation of Section 27(2) of the Banking Regulation Act, 1949.

The bank must bear the monetary penalty; no additional operating restriction is described in the release. The action is adverse only in the form of a financial penalty and does not indicate suspension, cancellation, or withdrawal limits.

• Section 47A (1) (c) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)
• Section 27(2) of the Act ibid

RBI imposed a penalty of ₹50,000 on The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh. The penalty was for violating RBI directives on loans and advances to directors and their relatives.

The bank must bear the monetary penalty, but the release does not describe any additional operational restriction or customer-facing prohibition. The action primarily affects the bank and signals regulatory non-compliance in connected lending practices.

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