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The Reserve Bank of India penalized a number of co-op banks and urban co-op banks on account of various acts of omission and commissions. Some of these include the City Co-operative Bank,
The Reserve Bank of India has imposed a monetary penalty of Rs 1 lakh on Chennai Central Co-operative Bank Ltd., Chennai, Tamil Nadu.
MUMBAI, Feb 21: The Reserve Bank of India (RBI) on Monday said it has imposed penalties on three co-operative banks totalling Rs 5 lakh for deficiencies in regulatory compliance. A penalty of Rs 2 lakh has been imposed on Baramulla Central Co-operative Bank Limited, Jammu and Kashmir for violation of RBI directions prohibiting acceptance of fresh deposits, the central bank said in a statement. The RBI said it has imposed a penalty of Rs 2 lakh on The Big Kancheepuram […]