The RBI has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. The co-operative banks are: Nasik Merchant’s Co-operative Bank, Mehsana Urban Co-operative Bank, Sangli Sahakari Bank, Pudukkottai Co-operative Town Bank
The Reserve Bank on Monday said it has imposed penalty on three cooperatives banks, including Maharashtra-based The Nasik Merchant s Co-operative Bank, for deficiencies in regulatory compliance.
The Reserve Bank of India has penalized three banks on various counts of flouting of its norms. RBI imposed a monetary penalty of Rs 50.00 lakh on The Nasik Merchant's Co-operative Bank for non-compliance with the