Mumbai/UNI: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 14 lakh on five co-operative banks for non-compliance with rules on Friday.
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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