The central bank said this 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.
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.
Mumbai (Maharashtra) [India], October 17 (ANI): The Reserve Bank of India (RBI) said on Monday it has imposed monetary penalty on Gujarat-based The Meghraj Nagarik Sahakari Bank for non-compliance with certain directions of the central bank.
Mumbai (Maharashtra) [India], September 26 (ANI): The Reserve Bank of India (RBI) on Monday said it has imposed a monetary penalty of Rs 1 lakh on Surat-based Varachha Co-operative Bank for contravention of directions issued by RBI on loans and advances to directors.
Mumbai (Maharashtra) [India], September 10 (ANI): The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 12.35 lakh on Indiabulls Commercial Credit Limited for non-compliance with certain KYC-related provisions.