The Katihar District Central Co-operative Bank Limited, Bihar Key Details Root Cause Analysis (RCA) The bank had sanctioned loans to its director. It also failed to submit credit information of its customers to two Credit Information Companies. Preventive Controls Lesson Learned Compliance with regulations regarding lending to directors and submitting credit information to CICs is […]
Key Details Root Cause Analysis (RCA) The RBI’s penalty stemmed from a Statutory Inspection for Supervisory Evaluation (ISE 2024), which reviewed the bank’s financial position as of March 31, 2024. This inspection identified two specific areas of non-compliance. The root causes can be attributed to systemic failures within the bank’s processes: Preventive Controls To prevent
1. District Central Co-operative Bank Ltd., Bilaspur (Chhattisgarh) Key Details Root Cause Analysis (RCA) Preventive Controls Lessons Learnt RBI Press Release 2. The Kasaragod Co-operative Town Bank Ltd., Kerala Key Details Root Cause Analysis (RCA) Preventive Controls Lessons Learnt RBI Press Release 3. Altum Credo Home Finance Pvt. Ltd., Pune (Maharashtra) Key Details Root Cause
1. Sarvodaya Commercial Cooperative Bank Ltd., Mehsana, Gujarat Penalty: ₹5 lakh Key Details: RCA: Preventive Controls: Lessons Learnt: RBI Press Release 2. Sardargunj Mercantile Co-operative Bank Ltd., Patan, Gujarat Penalty: ₹1 lakh Key Details: RCA: Preventive Controls: Lessons Learnt: RBI Press Release 3. Maharashtra Gramin Bank, Aurangabad Penalty: ₹4.20 lakh Key Details: RCA: Preventive Controls:
