Regulatory23 May 2026, 12:31 pm
City Union Bank: RBI Imposes ₹10.1 Lakh Penalty
AI Summary
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹10.1 lakhs on City Union Bank Ltd due to non-compliance with certain provisions related to priority sector loan accounts and reporting of Self Help Group (SHG) member level data to Credit Information Companies (CICs). The penalty was levied based on the Statutory Inspection for Supervisory Evaluation of the Bank's position as of March 31, 2025. The RBI's order was received on May 22, 2026.
Key Highlights
- RBI imposed a penalty of ₹10.1 lakhs on City Union Bank.
- The penalty is for non-compliance on priority sector loans.
- Violation includes not reporting SHG data to Credit Information Companies.
- The penalty is based on inspection as of March 31, 2025.
Price Impact
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