The Mysore and Chamarajnagar District Co-operative Central Bank Ltd., Karnataka

RBI imposed a ₹1 lakh penalty on The Mysore and Chamarajnagar District Co-operative Central Bank Limited, Karnataka. The bank was penalized for holding shares in a co-operative society and for KYC record upload lapses.

The bank must absorb the ₹1 lakh penalty; the release does not impose any new restriction on operations, deposits, or lending. RBI also notes that the penalty is without prejudice to any other action that may be initiated separately.

• Section 19 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 ₹1 lakh penalty on The Mysore and Chamarajnagar District Co-operative Central Bank Ltd., Karnataka. The action was taken for sanctioning loans to its director in violation of the Banking Regulation Act.

The bank must bear the ₹1 lakh penalty; the release does not announce any business restriction, suspension, or cancellation. The order is without prejudice to any other action RBI may initiate separately, so additional supervisory or enforcement steps remain possible.

• Section 20 read with Section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949