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RBI imposes fine on five co-op banks; extends Directives on four

Last week, the Reserve Bank of India imposed a penalty on five cooperative banks for breaching RBI norms

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RBI Imposes Rs6 Lakh Penalty on 5 Cooperative Banks

Reserve Bank of India (RBI) has imposed a penalty of Rs6 lakh on five cooperative banks, citing the violation of different laws prescribed by the banking regulator. Of these, three banks are from Gujarat, while others belong to Bihar and Odisha.

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RBI imposes monetary penalty on HDFC Bank, Bank of America and others for rule violation

RBI had sent show cause notice to both of these banks before taking the action.

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RBI imposes monetary penalty on five co-operative banks Details here

RBI has imposed monetary penalties on 5 cooperative banks for deficiencies in regulatory compliance. These banks are: Patliputra Central Cooperative Bank, Patan Nagarik Sahakari Bank, Mandal Nagarik Sahakari Bank, Balasore Bhadrak Central Cooperative Bank and Dhrangadhra People’s Cooperative Bank

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