RBI imposes monetary penalty on 5 Co-operative Bank
Indira Mahila Sahakari Bank Limited, Malegaon, Maharashtra imposed penalty for non-compliance with certain provisions of RBI Directions on ‘Policy and Practice regarding Nominal Membership’ and ‘Exposure Norms & Statutory/ Other Restrictions – UCBs,
The Chitradurga District Co-operative Central Bank Limited, for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds – Guidelines for Classification, Reporting and Monitoring’.
Chitradurga, Karnataka, Samarth Sahakari Bank Limited, Solapur, Maharashtra for non-compliance with RBI directions on ‘Exposure Norms and Statutory/Other Restrictions -UCBs’.
The Central Co-operative Bank Limited Bikaner, Rajasthan for non-compliance with directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds – Guidelines for Classification, Reporting and Monitoring’
The Vaish Co-operative Adarsh Bank Limited, New Delhi for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016.
