The Reserve Bank of India has penalized five urban cooperative banks on various instances of flouting its norms. These banks are Mumbai based Janakalyan Sahakari Ban
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The RBI imposed penalties on 5 cooperative banks for deficiencies in regulatory compliance. These cooperative banks are: Indapur Urban Cooperative Bank, Janakalyan Sahakari Bank, Patan Urban Cooperative Bank, Pune Merchants Cooperative Bank, Pune Municipal Corp Servant’s Cooperative Urban Bank
The RBI has imposed monetary penalties on one bank in Mumbai and three co-operative banks in Pune in separate cases involving the violation of the apex bank's norms.The RBI has, by an order dated December 12, imposed a penalty of Rs 5 lakh on .
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