The Reserve Bank of India (RBI) has imposed a penalty of ₹25,000 on Pudukkottai Co-operative Town Bank Ltd for non-compliance of directions issued on Board of Directors - UCBs .
The RBI has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. The co-operative banks are: Nasik Merchant’s Co-operative Bank, Mehsana Urban Co-operative Bank, Sangli Sahakari Bank, Pudukkottai Co-operative Town Bank