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RBI Imposes Rs27.50 Lakh Penalty on 4 Cooperative Banks from Maharashtra, 1 from Gujarat

Reserve Bank of India (RBI) has imposed monetary penalties on five cooperative banks, citing the violation of different laws prescribed by the regulator. Four banks are from Maharashtra, while the other belongs to Gujarat. RBI has levied a fine of Rs13 lakh, the highest among the banks, on SBPP Cooperative Bank Ltd from Gujarat. ....

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