RBI imposes monetary penalty on The A.P. Raja Rajeswari Mahila Co-operative Urban Bank Ltd., Hyderabad
India, March 6 -- The Reserve Bank of India (RBI) has, by an order dated March 03, 2025, imposed a monetary penalty of Rs. 50,000/- (Rupees Fifty Thousand only) on The A.P. Raja Rajeswari Mahila Co-operative Urban Bank Ltd., Hyderabad (the bank) for non-compliance with certain directions issued by RBI on 'Management of Advances - UCBs'. 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.The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regar...
To read the full article or to get the complete feed from this publication, please
Contact Us.