![[Toyota Times] From Strengthening Foundations to Boosting Productivity - Toyota Focuses on Break-Even Volume](https://businessfortnight.com/wp-content/uploads/2025/11/Toyota-Times-From-Strengthening-Foundations-to-Boosting-Productivity-Toyota-218x150.jpg "[Toyota Times] From Strengthening Foundations to Boosting Productivity – Toyota Focuses on Break-Even Volume")
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The Reserve Bank of India (RBI) has imposed, by an order dated October 27, 2022, a financial penalty of ₹2.00 lakh (Rupees Two Lakh solely) on the Banda Urban Co-operative Bank Ltd., Banda, U.P (the financial institution) for contravention of the instructions issued by RBI on “Exposure Norms and Statutory / Other Restrictions – UCBs.” This penalty has been imposed in train of powers vested in RBI below the provisions of Section 47A(1)(c) learn with Section 46(4)(i) and Section 56 of the Banking Regulation Act, 1949. This motion is predicated on deficiencies in regulatory compliance and isn’t meant to pronounce upon the validity of any transaction or settlement entered into by the financial institution with its clients. Background The inspection report of the financial institution primarily based on its monetary place as on March 31, 2021, revealed, inter alia, that the financial institution had didn’t adjust to the RBI instructions on prudential inter-financial institution (gross) publicity norms. Based on the identical, a Notice was issued to the financial institution advising it to indicate trigger as to why penalty shouldn’t be imposed on it for non-compliance with the mentioned instructions. After contemplating the financial institution’s reply and oral submissions made in the course of the private listening to, RBI got here to the conclusion that the cost of non-compliance with the aforesaid RBI instructions was substantiated and warranted imposition of financial penalty. (Yogesh Dayal) Press Release: 2022-2023/1112 |
