Live
- Alphores Narender Reddy donates Rs 1 lakh to library
- Provide all facilities at Group-2 exam centres: Collector Venkatesh Dhotre
- Kadiyam Kavya seeks coach factory at Kazipet
- Gold rates in Hyderabad today slashes, check the rates on 14 December, 2024
- Govt aims at empowerment of women, says Minister Seethakka
- Gold rates in Vijayawada today slashes, check the rates on 14 December, 2024
- Kothagudem: District to play key role in coal production
- Students can achieve greatness through education: Dattatreya
- District-Level Science Exhibition Concludes: 26 projects selected for State-level exhibition
- Atul suicide case: Wife absconds, cops arrest kin
RBI fines Chaitanya Co-operative Urban bank in Hyderabad, Telangana
Highlights
The Reserve Bank of India has imposed a monetary penalty of Rs. 1.00 lakh (Rupees one lakh only) on Chaitanya Co-operative Urban Bank Ltd.
.jpg)
The Reserve Bank of India has imposed a monetary penalty of Rs. 1.00 lakh (Rupees one lakh only) on Chaitanya Co-operative Urban Bank Ltd., Hyderabad, Telangana, in exercise of the powers vested in it under the provisions of Section 47A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of guidelines/directives of Reserve Bank of India on loans and advances to directors and their relatives.The Reserve Bank of India had issued a show-cause notice to the bank, in response to which the bank submitted a written reply. After considering the facts of the case and the bank’s reply in the matter, the Reserve Bank of India came to the conclusion that the violations were substantiated and warranted imposition of penalty.
Next Story
ADVERTISEMENT
