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RBI fines Sindhudurg DCC Bank ₹13.30 lakh for director-related loan

Source: Reserve Bank of India · Press Release prid 63219 · ~1 min read

RBI imposed a ₹13.30 lakh penalty on Sindhudurg District Central Co-operative Bank for sanctioning a loan to a director, violating Section 20(1) of the Banking Regulation Act, 1949. The action follows a NABARD inspection and is based on statutory non-compliance.

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Official RBI source: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63219 — summary by BankPulse (bankpulse.ai).
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