RBI fines Chittoor DCC Bank for director-related loans
Source: Reserve Bank of India · Press Release prid 62989 · ~1 min read
RBI imposed a ₹1 lakh penalty on The Chittoor District Co-operative Central Bank Ltd. for sanctioning loans to directors, violating Section 20 read with Section 56 of the Banking Regulation Act, 1949.
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Official RBI source: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=62989 — summary by BankPulse (bankpulse.ai).
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