The penalty was slapped on the non-adherence, violation of directions issued under exposure norms and statutory or other restrictions - urban cooperative banks, the central bank said.
The central bank said this penalty had been imposed in exercise of powers vested in RBI conferred under Banking Regulation Act, 1949, according to a statement of the central bank released on Monday.
This action is based on a deficiency 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, the RBI said in the statement.
The central bank has said the 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.
New Delhi [India], November 18 (ANI/SRV): With a vision to empower middle class people and make them financially strong, Karnataka Dharmadrishti Souharda Credit Co-operative Society Limited unveiled its new logo on November 12, at Vasavi Hall. VV Puram, Rangan Varadhan, founder and CEO of Bi
Those banks are The Berhampur Cooperative Urban Bank, The Kendrapara Urban Co-operative Bank , The Jamshedpur Urban Cooperative Bank, Krishna Mercantile Co-operative Bank , Renuka Nagarik Sahakari Bank Maryadit, Jila Sahakari Kendriya Bank Maryadit, Osmanabad Janata Sahakari Bank, The Santra
Three Jaish-e-Mohammed (JeM) operatives, who were arrested on the intervening night of Tuesday and Wednesday, were sent to six-day police remand, said police on Thursday.
This comes after the initial batch of six Chinese nationals deported last October 19. Subjects were escorted by operatives from the BI's Warden Facility Protection Unit, Border Control and Intelligence Unit, and Intelligence Division.
Mumbai (Maharashtra) [India], November 2 (ANI/BusinessWire India): India Medtronic Private Limited, a wholly owned subsidiary of Medtronic plc (NYSE:MDT), today announced the launch of the TruClear™ system, a mechanical hysteroscopic tissue removal system used for the safe and effec
Amritsar (Punjab) [India], October 22 (ANI): In a joint operation with Delhi Police, Punjab Police and Anti-Gangster Task Force (AGTF) have busted a terror module and arrested three people, the police said on Thursday.
Mumbai (Maharashtra) [India], October 17 (ANI): The Reserve Bank of India (RBI) on Monday said it has imposed a monetary penalty of Rs 2 lakh on Gujarat-based The Co-operative Bank of Rajkot for non-compliance with regulations related to awareness schemes.