The Reserve Bank of India (RBI) has imposed penalty on Lalbagh Cooperative Bank Limited, The Cooperative Bank of Mehsana Limited, Harij Nagrik Sahakari Bank Limited and The National Cooperative Bank Limited.
Reserve Bank of India (RBI) has imposed penalty on 4 cooperative banks. This penalty has been imposed on cooperative banks due to lapses in regulatory compliance. The Reserve Bank has imposed penalty on Lalbagh Cooperative Bank Limited, The Cooperative Bank of Mehsana Limited, Harij Nagrik Sahakari Bank Limited and The National Cooperative Bank Limited.
Fine of Rs 5 lakh on Lalbagh Cooperative Bank
The Reserve Bank of India (RBI) has imposed a fine of Rs 5 lakh on Lalbagh Cooperative Bank Limited, Vadodara. RBI said the bank not only breached the Prudential Inter-Bank (Gross) Exposure Limit but also the Prudential Inter-Bank Counter Party Exposure Limit. Also, the bank failed to pay interest on overdue recurring and term deposits at the applicable rates from the date of maturity to the date of repayment.
This much penalty was imposed on these banks
The Reserve Bank has imposed a penalty of Rs 3.50 lakh on The Cooperative Bank of Mehsana Limited, Mehsana. At the same time, the Reserve Bank of India has imposed a monetary penalty of Rs 3 lakh on Harij Nagrik Sahakari Bank Limited. The Reserve Bank has imposed a penalty of Rs 1 lakh on The National Cooperative Bank Limited, Mumbai.
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