India, March 27 -- The Reserve Bank of India (RBI) has, by an order dated March 13, 2025, imposed a monetary penalty of ?2.70 lakh (Rupees Two Lakh Seventy Thousand only) on The Co-operative Urban Bank Ltd., Paralakhemundi, Odisha (the bank) for non-compliance with the certain directions issued by RBI on 'Exposure Norms and Statutory / Other Restrictions- UCBs' and 'Membership of Credit Information Companies (CICs) by Co-operative Banks'.This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 and Section 25 of the Credit Information Companies (Regulation) Act, 2005.
The statutory inspection of the bank was conducted...