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Reserve Bank of India (RBI) has imposed monetary penalties on eight cooperative banks citing the violation of various rules and regulations. Of these eight banks penalised by RBI, three belong to Maharashtra, two to Gujarat, and one each from Chhattisgarh, West Bengal and Uttar Pradesh. RBI levied a penalty of Rs10 lakh each on Pratapgarh, Uttar Pradesh (UP)-based National Urban Cooperative Bank Ltd, and Surat-based The Sutex Cooperative Bank Ltd, which is the highest among the eight banks. ....
PMC urges banks to provide loans to property tax defaulters “So far, the amnesty scheme has helped the civic body increase its revenue collection from property tax by Rs 350 crore. There are many defaulters that are unable to clear the dues to problems arising in their earnings due to the pandemic,” said Vilas Kanade, incharge of the PMC property tax department. December 28, 2020 11:02:01 pm The NCP has managed to get Pradeep Gaikwad and Bandu Gaikwad elected to the standing committee on vacated seats. (File) After collecting revenue for property tax worth almost Rs 350 crore from its amnesty scheme till date, the Pune Municipal Corporation (PMC), in a bid to further increase its revenue collection, has come up with an initiative to provide loans to defaulters for clearing their dues. ....