SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Other Links   Extra Curricular
Search
Period
From  
To  
Archives
   
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (173.00 kb ) version to your machine and then use respective software to print the story.
Date: 12/09/2017
U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow (Uttar Pradesh) – Penalised

The Reserve Bank of India has imposed a monetary penalty of ₹5,00,000/- (rupees five lakh only) on U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow 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 continuous non-submission of the returns u/s 27 of the Act ibid and unreasonable delay in submission of compliance to deficiencies pointed out in RBI inspection.

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: 2017-2018/708

 
  © Reserve Bank of India. All Rights Reserved.

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