The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 6 lakh on Sharad Sahakari Bank in Pune for non-compliance with the directions issued by the central bank on know your customers and interest rate on deposits .
The Enforcement Directorate (ED) on Friday attached Rs 78.38 crore assets of Maharashtra-based Jalna Sahakari Sakhar Karkhana Ltd in connection with a money-laundering probe relating to the illegal sale of Cooperative Sugar Mills (Sahakari Sakhar Karkhana) in Maharashtra State Co-operative Bank (MSCB) case.
The Reserve Bank of India (RBI) said on Wednesday that it has cancelled the licence of Maharashtra-based Sarjeraodada Naik Shirala Sahakari Bank Limited as it has failed to comply with the regulations and does not have adequate capital and earning prospects.