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Bassein Catholic Co-op Bank agrees to form BoM; dismisses SAF rumour
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Reserve Bank of India imposes Rs 11 lakh penalty on 2 co-op banks
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RBI imposes Rs 11 lakh penalty Bijnor Urban Co-operative Bank Limited Bijnor and National Urban Co-operative Bank Limite
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Penalty on Priyadarshini Mahila Nagari Sah Bank
RBl has imposed a monetary penalty on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed, Maharashtra (the bank) for non-adherence/ violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF).
This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, says RBI.
The inspection report of the bank based on its financial position as on March 31, 2019, revealed violation of specific directions issued to the bank by the RBI.