The Reserve Bank of India (RBI) said on Thursday that it has imposed a monetary penalty of Rs 43.30 lakh on Zoroastrian Co-operative Bank Ltd for violating the rules.
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.
Mumbai (Maharashtra) [India], August 23 (ANI/PNN): The Zoroastrian Co-operative Bank, a leading Urban Co-operative Bank has shown overall excellent financial results for year ended March 2022.