RBI Imposes ₹1.49 Lakh Monetary Penalty on Canara Bank Over Currency Chest Discrepancies

State-owned lender Canara Bank (BSE: 532483 | NSE: CANBK) has informed the stock exchanges that the Reserve Bank of India (RBI) has levied a monetary penalty of ₹1,49,450 (Rupees One Lakh Forty-Nine Thousand Four Hundred Fifty Only) on the bank.

Key Details of the RBI Penalty Order

Regulatory Authority: Reserve Bank of India (RBI)

Date of Receipt of Communication: August 10, 2026

Total Penalty Amount: ₹1,49,450

Nature of Contraventions and Violations

The monetary penalty was imposed on account of operational discrepancies detected in Currency Chest (CC) remittances:

Currency Chest Remittance Shortage: ₹1,24,100

Mutilated Notes in Currency Chest Remittance: ₹23,350

Counterfeit Notes in Currency Chest Remittance: ₹2,000

Financial & Operational Impact

Canara Bank clarified in its submission that the financial impact on the entity is strictly limited to the quantifiable penalty amount of ₹1,49,450, with no material impact on its regular operations or other business activities.

Source : Equity Bulls

Keywords

CanaraBank RBI MonetaryPenalty