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RBI fines 5 of Gujarat s UCBs; highest fine on Shree Bharat Co-op Bank

On Thursday, the Reserve Bank of India imposed fines totalling Rs 13.50 lakh on five urban cooperative banks

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RBI slaps monetary penalties on five co-op banks

RBI slaps monetary penalties on five co-op banks
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RBI penalties on Gujarat banks: RBI penalises five Gujarat-based cooperative banks

The Reserve Bank of India has imposed penalties on five Gujarat-based cooperative banks for non-compliance with its regulations. The penalties range from Rs 50,000 to Rs 5 lakh, with the most severe being a Rs 5 lakh penalty on the Vadodara-based Shree Bharat Co-operative Bank for non-compliance with its 2016 norms on interest rate on deposits.

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RBI Imposes Penalties On 5 Gujarat-Based Cooperative Banks

The monetary penalty on each of these five banks by the RBI is based on deficiencies in regulatory compliance, RBI Imposes Penalties On 5 Gujarat-Based Cooperative Banks

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RBI imposes monetary penalty of Rs 1 50 lakh on Bhuj Commercial Co-operative Bank

RBI imposes monetary penalty of Rs 1 50 lakh on Bhuj Commercial Co-operative Bank
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