The Reserve Bank of India (RBI) has imposed monetary penalties on four urban cooperative banks (UCB) in Gujarat for breach of rules after carrying out statutory inspections of their records.
The Reserve Bank has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: The Sarvodaya Sahakari Bank, Dhanera Mercantile Co-operative Bank, The Janata Co-operative Bank and Maninagar Co-operative Bank