Sale of property (secured asset) under the securitisation & reconstruction of financial assets & enforcement of security interest act, 2002 (sarfaesi act).
The RBI said the bank had sanctioned unsecured advances above the permissible limit in certain cases in contravention of directions issued by the regulator.
The Reserve Bank of India penalized a number of co-op banks and urban co-op banks on account of various acts of omission and commissions. Some of these include the City Co-operative Bank,