About Us     Useful Information     FAQs     Financial Education     Complaints   Important Websites  
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (167.00 kb ) version to your machine and then use respective software to print the story.
Date: 07/08/2018
National Urban Co-operative Bank Ltd., Bahraich, Uttar Pradesh - Penalised

The Reserve Bank of India has imposed a monetary penalty of ₹ 2,50,000/- (Rupees two lakh and fifty thousand only) on National Urban Co-operative Bank Ltd., Bahraich, Uttar Pradesh in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of RBI Instructions/Guidelines on classification of investments into HTM/AFS/HFT categories, conducting Concurrent Audit, Prudential Norms on Inter-bank Gross Exposure and Counter Party Limit and Know Your Customer Norms.

The Reserve Bank of India had issued a Show Cause Notice to the bank, in response to which the bank had submitted a written reply. After considering the facts of the case, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of penalty.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/339

  © Reserve Bank of India. All Rights Reserved.

Best viewed in 1024x768 resolution in IE 5 and above.