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The Reserve Bank (RBI) has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: Lalbaug Co-operative Bank Ltd, The Co-operative Bank of Mehsana Ltd, The Harij Nagrik Sahakari Bank Ltd and The National Co-operative Bank Ltd. ....
The business restrictions have been imposed for a period of six months from the close of business on July 24, 2023 and are subject to review, the RBI added. ....