CANARA BANK - Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015

In exercise of powers vested in Reserve Bank of India (RBI) under the provisions of section 47 A (1) (c) read with section 46 (4) (i) and Section 51 (1) of the Banking Regulation Act, 1949, the RBI has, by an order dated May 09, 2023, imposed a monetary penalty of Rs.2.92 crore on Canara Bank for non-compliance with the provisions of directions issued by the RBI. The RBI has mentioned that this action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. This is for your kind information and records.