Tag: Penalty

RBI penalises 2 co-op banks for deficiencies in regulatory compliance

MUMBAI: The Reserve Bank of India (RBI) on Wednesday said it has imposed penalties on two cooperative banks for deficiencies in certain regulatory compliance. A penalty of Rs 5 lakh has been imposed on The Swasakthi Mercantile Cooperative Urban Bank, Vijayawada, for contravention of/ non-compliance with certain provisions of the directions issued under a 2015 circular on ‘Board […]

RBI imposes penalties on three co-operative banks for rule violations

The Reserve Bank of India (RBI) on August 26 imposed monetary penalties on three co-operative banks for violation of rules. These banks are Seyad Shariat Finance Limited, Tamil Nadu, Muslim Co-operative Bank, Maharashtra, and Jijamata Mahila Sahakari Bank Maharashtra, the RBI said in separate press statements on Thursday. The RBI imposed a penalty of Rs […]

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