Canara Bank Penalized ₹7.3 Lakh by RBI

Key Quantitative Figures

The Reserve Bank of India has imposed monetary penalties totaling ₹7,30,000 (Rupees Seven Lakh Thirty Thousand Only) on Canara Bank (Scrip Code: CANBK). The penalty consists of two components:

• ₹4,70,000 (Rupees Four Lakh Seventy Thousand Only) for 47 ATMs operating in the State of Karnataka
• ₹2,60,000 (Rupees Two Lakh Sixty Thousand Only) for 26 ATMs operating in the State of Tamil Nadu

Parties Involved

• Regulatory authority: Reserve Bank of India (RBI)
• Listed entity: Canara Bank

Details of Violation

The penalties were imposed "on account of ATM Cashout" violations. The specific nature of the cashout violations or duration was not detailed in the disclosure.

Financial Impact

The disclosure explicitly states that the financial impact is "Only to the extent of the amount of penalty i.e., Rs. 7,30,000/- (Rupees Seven Lakh Thirty Thousand Only)." No additional financial, operational, or other impacts were disclosed.