The Reserve Bank of India (RBl) has imposed a monetary penalty of Rs 3 lakh on the Shirpur Peoples Co-operative Bank, Shirpur, in Maharashtra for contravention of or non-compliance with certain directions issued by the central bank.
Get latest articles and stories on Business at LatestLY. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, RBI said. Business News | RBI Imposes Rs 3-lakh Penalty on Shirpur Peoples Co-operative Bank in Maharashtra.