Tax & Penalty29 Oct 2026, 08:10 pm
Canara Bank Fined ₹7.3 Lakhs by RBI for ATM Cashout Violations
AI Summary
Canara Bank has been penalized by the Reserve Bank of India (RBI) with a total monetary penalty of ₹7,30,000/-. The penalty comprises ₹4,70,000/- for 47 ATMs in Karnataka and ₹2,60,000/- for 26 ATMs in Tamil Nadu, related to ATM cashout operations. The violations pertain to ATM cashout activities. The financial impact on the bank is limited to the penalty amount.
Key Highlights
- RBI imposed a total penalty of ₹7.3 Lakhs on Canara Bank.
- Penalties are for ATM cashout violations in Karnataka and Tamil Nadu.
- The financial impact is limited to the penalty amount.
- The bank has been fined for operational contraventions.
Price Impact
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