Eight UCBs across states penalized for flouting RBI norms
Some of the well-known urban cooperative banks in the country were penalized by the RBI recently for flouting its statutory
Source: indiancooperative.com
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RBI imposes Rs 30 lakh penalty on Pune-based Janata Sahakari Bank
The Reserve Bank of India (RBI) has imposed a penalty of Rs 30 lakh on Janata Sahakari Bank Ltd, Pune for non-compliance with certain directions.
Source: indiatvnews.com
RBI imposes monetary penalty on Janata Sahakari Bank Ltd
The penalty was imposed for non-compliance with certain directions issued by the Reserve Bank of India.
Source: businesstoday.in
RBI Expert Panel Recommends Merger of Weaker Urban Co-op Banks
The Reserve Bank of India (RBI)’s expert committee on primary (urban) co-operative banks (UCBs) has recommended a regulatory nudge for weak UCBs to explore voluntary merger or conversion into a non-banking society at an early stage.
Source: moneylife.in
Penalty on Priyadarshini Mahila Nagari Sah Bank
Penalty on Priyadarshini Mahila Nagari Sah Bank RBl has imposed a monetary penalty on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed, Maharashtra (the bank) for non-adherence/ violation of specific directions issued to the bank by the RBI under Supervisory Action Framework (SAF). This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, says RBI. The inspection report of the bank based on its financial position as on March 31, 2019, revealed violation of...
Source: indiancooperative.com