RBI imposes Rs 60.3 lakh penalty on five co-operative banks

RBI imposes Rs 60.3 lakh penalty on five co-operative banks

Daily Current Affairs / RBI imposes Rs 60.3 lakh penalty on five co-operative banks

Change Language English Hindi

Category : Business and economics Published on: April 22 2024

Share on facebook

RBI penalizes five co-operative banks with a total fine of Rs 60.3 lakh for regulatory violations.
Penalties relate to non-compliance with RBI directives regarding loans, savings account openings, and deposit account maintenance.
Rajkot Nagarik Sahakari Bank faces the highest penalty of Rs 43.30 lakh.
Violations include loans to directors and their relatives, restrictions on savings account openings, and deposit account maintenance.
The Kangra Co-operative Bank (New Delhi) is fined Rs 5 lakh.
Rajdhani Nagar Sahkari Bank (Lucknow) also receives a Rs 5 lakh penalty.
Zila Sahakari Bank, Garhwal (Kotdwar, Uttarakhand), is subject to a Rs 5 lakh penalty.
District Co-operative Bank (Dehradun) is imposed with a penalty of Rs 2 lakh.

Recent Post's

R. Praggnanandhaa wins UzChess Cup Masters 2025 and becomes top-ranked Indian chess player.
Read More....
Meesho gets shareholder approval to raise ₹4,250 crore via IPO after shifting domicile to India.
Read More....
IPS officer Parag Jain appointed new RAW chief; played key role in Operation Sindoor.
Read More....
ICC updates powerplay rules for shortened T20 matches effective from July 2025.
Read More....
Power Ministry forms task force to develop 'India Energy Stack' for digital power infrastructure.
Read More....
MNRE issues revised guidelines for Biomass Programme to promote clean energy adoption.
Read More....
CBSE to hold Class 10 board exams twice a year from 2026 session; first phase mandatory, second optional.
Read More....
NATO agrees to increase defence spending target to 5% of GDP by 2035 at The Hague summit.
Read More....
India and South Africa sign agreements on submarine cooperation during defence talks.
Read More....
Odisha wins women’s title in first Hockey India Masters Cup; Tamil Nadu enters men’s final.
Read More....