The South Canara District Central Co-operative Bank Ltd, Karnataka

RBI imposed a monetary penalty of Rs 1.50 lakh on The South Canara District Central Co-operative Bank Ltd, Karnataka. The action followed findings of non-compliance with housing finance directions and contravention of the Banking Regulation Act.

The bank must absorb the monetary penalty; the release does not announce any restriction on operations, but RBI noted the action is without prejudice to any other action that may be initiated later. Depositors and customers are not directly restricted by this order.

• Section 19 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

RBI imposed a ₹5 lakh penalty on The South Canara District Central Co-operative Bank Ltd., Karnataka. The action was for contravention of BR Act provisions after the bank sanctioned director-related loans.

The bank must absorb the monetary penalty and remain mindful of further regulatory action, as RBI expressly said the penalty is without prejudice to any other action it may initiate. No operational restriction is described in this release, but the finding signals compliance risk around related-party lending and statutory lending norms.

• 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