Strict action is taken against banks in case of violation of the guidelines given by the Reserve Bank of India.
If any bank violates these rules, a heavy penalty is imposed. Reserve Bank of India has set sentences on about 13 cooperative banks.
Such action is standard in case of violation of rules by banks.
Let us know on which banks this penalty has been imposed. This penalty has been set between ₹ 50,000 to ₹ 4 lakh.
A penalty has been imposed on these banks
- A penalty of ₹4 lakh has been imposed on Shri Kanyaka Nagari Sahakari Bank, Chandrapur.
- The Vaidyanath Urban Co-operative Bank, Beed, has been fined ₹2.50 lakh.
- Wai Urban Co-operative Bank, Satara, has been fined ₹2 lakh.
- A penalty of ₹2 lakh has been imposed on Indore Premier Co-operative Bank, Indore.
- Patan Nagarik Sahakari Bank, Patan, has been fined ₹1.50 lakh.
- The Tura Urban Cooperative Bank, Meghalaya, has been fined ₹1.59 lakh.
- Nagrik Sahakari Bank Maryadit, Jagdalpur
- Jijau Commercial Co-operative Bank, Amravati
- Eastern & North-East Frontier Railway Co-op Bank, Kolkata
- District Sahakari Kendriya Bank Maryadit, Chhatarpur
- Nagrik Sahakari Bank Maryadit, Raigarh
- District Sahakari Kendriya Bank Maryadit, Bilaspur
- District Sahakari Kendriya Bank Maryadit, Shahdol
