RBI slaps Rs 50.35 lakh penalty on Janalaxmi Co-operative Bank
A statutory inspection conducted by RBI with reference to the bank s financial position as on March 31, 2019 and the inspection report pertaining thereto, and examination of all related correspondence revealed non-compliance with the directions RBI has also imposed a penalty of Rs 3 lakh on the Noida Commercial Co-operative Bank, Ghaziabad (Source: PTI) PTI
Updated Aug 03, 2021, 8:55 AM IST
Reserve Bank of India on Monday said it has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements. The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks and Membership of Credit Information Companies (CICs) .
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