Reserve Bank of India (RBI) has imposed a monetary penalty of Rs4.20 lakh on four cooperative banks, including Vita Urban Cooperative Bank Ltd, Shri Vinayak Sahakari Bank Ltd, Shreeji Bhatia Cooperative Bank Ltd and Mizoram Urban Cooperative Development Bank Ltd, for violating different laws prescribed by the banking regulator.
The Reserve Bank of India has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. These banks are Shri Vinayak Sahakari Bank, Shreeji Bhatia Cooperative Bank, Mizoram Urban Cooperative Development Bank and Vita Urban Co-operative Bank