Reserve Bank of India Imposes Penalty of Rs 1,49,450 on Canara Bank Over CC Remittance Issues
The Reserve Bank of India (RBI) has levied a monetary penalty totaling Rs 1,49,450.00 on Canara Bank following violations related to Currency Chest (CC) remittance activities. The action was taken and communicated on August 10, 2026, concerning issues involving CC Remittance Shortage, Mutilated Notes in CC Remittance, and Counterfeit notes within the remittance process.The penalty covers multiple contraventions related to currency handling. The specific details of the violations and their associated amounts are as follows:
| Violation Type | Associated Penalty Amount |
|---|---|
| CC Remittance Shortage | Rs 1,24,100/- |
| Mutilated Notes in CC Remittance | Rs 23,350/- |
| Counterfeit in CC Remittance | Rs 2,000/- |
The total monetary penalty imposed by the RBI on Canara Bank for these breaches related to CC remittance amounts to Rs 1,49,450.00. This amount represents the impact of the action on the financial activities of the listed entity.
CANBK Stock Price Movement
As of 3:00 PM, shares of Canara Bank are slipping by 1.99% in live trading, currently valued at ₹129.32 as investors remain cautious on the public sector bank. The stock sees substantial activity in the market with over 16.59 million shares being traded so far today.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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