RBI Penalizes Canara Bank with Monetary Fine for Delayed Currency Chest Reporting
The Reserve Bank of India (RBI) has imposed a monetary penalty on Canara Bank following an issue related to delayed reporting by its Currency Chest operations.According to the notification, the RBI levied a penalty totaling Rs.2,49,658.00 on the bank. The action was taken in relation to the delay in reporting by the Currency Chest division of the institution.
The details surrounding the penalty and the associated violation are as follows:
| Authority | Reserve Bank of India |
|---|---|
| Nature of Action Taken | RBI levied a penalty of Rs.2,49,658.00 |
| Date of Order Receipt | 06.06.2026 |
| Violation Details | Delayed Reporting by Currency Chest |
| Financial Impact | The impact on the bank's financial standing is quantified by the penalty amount of Rs.2,49,658/-. |
The RBI's action targets operations that resulted in delayed reporting concerning the Currency Chest functions at the state-owned bank.
CANBK Stock Price Movement
Canara Bank shares rallied on Friday, gaining 2.46% in the trading session and ultimately closing at ₹135.81. The equity saw robust activity as over 47.14 million shares changed hands during the day's close.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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