Page 11 - Supervisory Action Framework News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Beed based Mahila Nagari Sahakari Bank penalized The Reserve Bank of India has imposed a monetary penalty on Priyadarshini Mahila Nagari Sahakari Bank Limited, Beed, Maharashtra (the bank) for violation of specific directions issued to the bank by the RBI. RBI 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, press release from the RBI clarifies. The inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, non-a...

Photo Credit: PTI Karnataka-based Deccan Urban Co-operative Bank has been put under restriction by the banking regulator, Reserve Bank of India. It has imposed a Rs 1,000 withdrawal limit on the customers due to poor financial health of the bank. The regulator stated the bank cannot write grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, tra...