RBI imposes Rs 10 lakh fine on Tiruchengode Co-operative Urban Bank
Mon, Jun 27, 2022 6:53 PM

RBI imposes Rs 10 lakh fine on Tiruchengode Co-operative Urban Bank

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A monetary penalty of Rs 10 lakh has been imposed on Tamil Nadu-based The Tiruchengode Cooperative Urban Bank for non-compliance of certain norms, says the Reserve Bank of India.  

The bank reported that based on its financial position as of March 31, 2020, the lender did not comply with directions issued on exposure norms or other restrictions pertaining to urban cooperative bank and KYC rules.

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