RBI slaps monetary penalties on five co-op banks financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The Reserve Bank of India has imposed penalties on five Gujarat-based cooperative banks for non-compliance with its regulations. The penalties range from Rs 50,000 to Rs 5 lakh, with the most severe being a Rs 5 lakh penalty on the Vadodara-based Shree Bharat Co-operative Bank for non-compliance with its 2016 norms on interest rate on deposits.
The monetary penalty on each of these five banks by the RBI is based on deficiencies in regulatory compliance, RBI Imposes Penalties On 5 Gujarat-Based Cooperative Banks
The RBI imposed penalties on 5 cooperative banks for deficiencies in regulatory compliance. These cooperative banks are: Indapur Urban Cooperative Bank, Janakalyan Sahakari Bank, Patan Urban Cooperative Bank, Pune Merchants Cooperative Bank, Pune Municipal Corp Servant’s Cooperative Urban Bank
RBI imposes fine on AP Mahesh Bank for lax cybersecurity practices medianama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medianama.com Daily Mail and Mail on Sunday newspapers.