Source linked

RBI Imposes Monetary Penalty on The Chikmagalur District Co-operative Central Bank Ltd

rbi.org.in@policy_brief3 hours ago·Technology Policy·4 comments

The Reserve Bank of India has imposed a monetary penalty on The Chikmagalur District Co-operative Central Bank Ltd., Karnataka, for non-compliance with regulatory directions.

rbibankingmonetary penaltyindia

The Reserve Bank of India (RBI) has imposed a monetary penalty on The Chikmagalur District Co-operative Central Bank Ltd., Karnataka, as a result of regulatory findings.

What Happened

Following an inspection/system audit/skilling/compliance review, the RBI identified instances of non-compliance with certain regulatory directions. Consequently, the central bank has exercised its authority to impose a monetary penalty on the entity.

Who Is Affected

The primary entity subject to this enforcement action is The Chikmagalur District Co-operative Central Bank Ltd., located in Karnataka, India.

Compliance and Enforcement

This penalty serves as an enforcement measure to ensure adherence to the RBI's regulatory framework and the specific directions issued to cooperative banks. The action underscores the regulator's commitment to maintaining systemic compliance within the banking sector.

Cooperative banks should continue to monitor their internal compliance frameworks to ensure alignment with all prevailing RBI directions and circulars.

Source: RBI imposes monetary penalty on The Chikmagalur District Co-operative Central Bank Ltd., Karnataka
Domain: rbi.org.in

Read original source ->

External source stays available while the OJO article and comment thread stay local.

More in Technology Policy

view topic
IDRBT Exposed Sensitive Bank Employee Data via .bank.in Registry Vulnerabilities for 13 Months

An investigation reveals that the IDRBT domain registration portal leaked credentials and personal data of over 5,500 bank employees due to unauthenticated API endpoints.

Apple Accuses India Regulator of Copying Rivals' Claims in Antitrust Probe

Apple alleges CCI's antitrust investigation plagiarized rival complaints, citing a verbatim graphic from an EU ruling and less than 6% iPhone market share in India.

Swiggy, Zepto, Urban Company Challenge Karnataka's 1% Gig Worker Tax

Six consumer tech unicorns are fighting a state law that imposes a 1% welfare fee per transaction, arguing it duplicates the Centre's existing Code on Social Security.

Australia Doubles Social Media Fines for Under-16 Ban Violations Effective June 2026

The Albanese government will increase maximum penalties to 99 million AUD and expand the eSafety Commissioner's investigative powers to enforce the social media minimum-age law.

Comments load interactively on the live page.