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Reserve Bank of India (RBI) has imposed Rs13.10 lakh penalties on five cooperative banks for violating rules and regulations prescribed by the regulator. Of these, three banks are from Gujarat, while others belong to West Bengal and Mizoram. RBI has levied a fine of Rs7 lakh, the highest among the banks, on Uma Cooperative Bank Ltd from Gujarat.Reserve Bank of India (RBI) has imposed Rs13.10 lakh penalties on five cooperative banks for violating rules and regulations prescribed by the regulator. Of these, three banks are from Gujarat, while others belong to West Bengal and Mizoram. RBI has levied a fine of Rs7 lakh, the highest among the banks, on Uma Cooperative Bank Ltd from Gujarat. ....
The RBI has imposed monetary penalties on 5 co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: Uma Co-operative Bank, Pij People’s Co-operative Bank, Mizoram Co-operative Apex Bank, Birbhum District Central Co-operative Bank and Shihori Nagarik Sahakari Bank ....