The Reserve Bank of India ( RBI ) has made a significant move on agreeable banks. Eight agreeable banks have been fined by the RBI for the lack of administrative consistency. Given this data, the national bank said that the Associate Co-employable Bank Ltd. Surat (Gujarat) on 'advances and advances to chiefs, family members and firms/elements in which they are intrigued' and A fine of Rs 4 lakh has been forced for resistance of expert guidelines on ' Know Your Customer (KYC) '.
RBI said that a fine of Rs 1 lakh has been forced on Varachha Co-usable Bank Ltd, Surat for infringement of specific standards of Depositor Education and Awareness Fund Scheme, 2014. Mogveera Co-Operative Bank Limited, Mumbai has been fined Rs 2 lakh for the rebelliousness of specific directions connected with KYC standards.
These banks were fined
A financial fine of Rs 2 lakh has additionally been forced on Vasai Janata Sahakari Bank, Palghar. Punishment forced for infringement/consistence with bearings given by RBI on 'Openness Norms and Statutory/Other Restrictions-UCBs'. Moreover, RBI has forced Rs 1 lakh on Rajkot Peoples Co-employable Bank, Rajkot for repudiation of headings on 'Advances and advances to chiefs, family members and firms/elements in which they are intrigued'. Has forced a fine of Rs.
RBI has forced a fine of Rs 2 lakh on Bhadradri Co-usable Urban Bank. Punishment forced for resistance with bearings given by RBI on Exposure Norms and Statutory/Other Restrictions-UCB' and 'Advance Management-UCB'. The Jammu Central Co-usable Bank Ltd., the Jammu, and the Jodhpur Nagrik Sahakari Bank, Jodhpur were fined one lakh each for infringement of specific standards. Is.
RBI, in any case, said the punishment depends on a lack of administrative consistency and doesn't scrutinize the legitimacy of any exchange or understanding went into by keeping money with their individual clients.
RBI expands limitations till April 16
Prior, RBI expanded the limitations on Mumbai based City Cooperative Bank till 16 April 2022. Prior, RBI had coordinated limitations on this helpful bank till 16 January 2022. Because of the weakening monetary state of the bank, the national bank had forced limitations on City Cooperative Bank.
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