On Monday, RBI imposed a Rs 7-lakh penalty on Uma Cooperative Bank of Vadodara for breaching the prescribed inter-bank counterparty exposure limit and the prescribed inter-bank exposure limit.
The RBI has imposed monetary penalties on 5 co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: Uma Co-operative Bank, Pij People’s Co-operative Bank, Mizoram Co-operative Apex Bank, Birbhum District Central Co-operative Bank and Shihori Nagarik Sahakari Bank