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The Reserve Bank of India (RBI) has levied penalties on several cooperative banks for various non-compliance issues. Nashik-based Janalaxmi Cooperative Bank has been fined Rs 59.90 lakh for failing to form a board of management within the extended timeline set by the RBI, extending credit facilities beyond prescribed limits to nominal members, and offering term deposits at higher interest rates than State Bank of India.

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

The Reserve Bank of India imposed monetary penalties on five cooperative banks on Monday. These banks

The Reserve Bank of India imposed monetary penalties on five cooperative banks on Monday. These banks

The Reserve Bank of India imposed a monetary penalty on five cooperative banks on Monday for breaching