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Four UCBs penalized; Fine of Rs 63 lac on Bombay Mercantile Co-op Bank

Reserve Bank of India imposed monetary penalties on four cooperative banks for breaching the RBI norms.

Nakodar hindu urban cooperative bankNavnirman bank ltdZoroastrian cooperative bankNakodar hindu urban cooperative bank ltdZoroastrian bank ltdJai prakash narayan nagari sahakari bankGuru raghavendra sahakara bankBombay mercantile cooperative bankBombay mercantile bank ltdNavnirman cooperative bankReserve bankNavnirman cooperativeIncome recognitionAsset classificationSupervisory action frameworkZoroastrian co operative bank ltd

Eight UCBs penalized across states; Fines from Rs 4 lac to Rs 25k

Eight urban cooperative banks from across the country were penalized by the RBI last week on various acts of omis

Uttar pradeshWest bengalMadhya pradeshJammu and kashmirPaona bazarNabapalli cooperative bankAwareness fund schemeBanks on fraudsAmravati merchant bank ltdJila sahakari kendriya bank maryaditManipur women cooperative bankFaiz mercantile bank ltdNavnirman bank ltdUnited india bankBaghat urban bankReserve bank

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