India, Feb. 24 -- The Reserve Bank of India (RBI) has, by an order dated February 18, 2025, imposed a monetary penalty of Rs. 50,000/- (Rupees Fifty Thousand only) on The Guntur District Co-operative Central Bank Ltd., Andhra Pradesh (the bank) for contravention of provisions of Section 31 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023. Based on supervisory findings of contravention of ...