The central bank said a penalty of Rs 13 lakh has been imposed on Janata Sahakari Bank, Pune for non-compliance with directions on Interest Rate on Deposits .
The Adoor Co-operative Urban Bank will ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking institution, the RBI said
The RBI today imposed penalties on four cooperative banks Bombay Mercantile Co-operative Bank, Tamil Nadu State Apex Co-operative Bank, Janata Sahakari Bank and Baran Nagrik Sahkari Bank for contravention of various norms