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RBI said that the penalties imposed on the co-operative bank has been done taking into account the failure of the bank to adhere to the aforesaid directions issued by the regulator.
The Reserve Bank of India (RBI) said on Monday it has imposed a monetary penalty of Rs 55 lakh on Visakhapatnam Co-operative Bank Ltd for violation of directions related to asset classification.
The Reserve Bank of India has imposed a monetary penalty of ₹15.00 lakh on the Akola Urban Co-operative
Get latest articles and stories on Latest News at LatestLY. With normalisation of monetary policy, Non-Banking Financial Companies (NBFCs) need to be careful of the rise in their borrowing cost, says an RBI article. Latest News | As Monetary Policy Normalises, NBFCs Need to Be Wary of Rising Borrowing Costs: RBI Article.
Another challenge is to build upon strong governance and risk management standards to gain stakeholder confidence, say authors