The penalties imposed on these eight banks ranged from Rs 1 lakh to Rs 40 lakh. Furthermore, the RBI imposed a monetary penalty on Spandana Sphoorty Financial, an NBFC.
Get latest articles and stories on Latest News at LatestLY. The RBI on Monday said it has imposed penalties on eight cooperative banks, including a fine of Rs 40 lakh on the Mehsana Urban Co-operative Bank, Gujarat, for non-compliance with various norms. Latest News | RBI Penalises 8 Co-op Banks.