Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Tue, 22 Feb 2022 09:09 AM IST
Summary
RBI Imposes Penalty On 3 Cooperative Banks: The Reserve Bank of India (RBI) has imposed penalty on three cooperative banks. Of these, two banks are from Tamil Nadu, while one bank is from Jammu and Kashmir. According to the information shared by the RBI, a total fine of Rs 5 lakh has been imposed on the three co-operative banks.
The Reserve Bank of India (RBI) has imposed penalty on three co-operative banks for lack of regulatory compliance. Of these, two banks are from Tamil Nadu, while one bank is from Jammu and Kashmir. According to the information shared by the RBI, a total fine of Rs 5 lakh has been imposed on the three co-operative banks.
RBI said in this regard that this penalty has been imposed on banks for lack of regulatory compliance. Under this, the Big Kancheepuram Cooperative Town Bank Ltd. (No. 3) for non-compliance with the instructions issued under the loan rules and statutory/other restrictions of Rs. J&K’s Baramulla Central Co-Operative Bank Ltd. has been fined Rs.2 lakh and Chennai Central Co-operative Bank-Rs.1 lakh for non-compliance of certain directions in matters relating to income recognition, asset classification, provision and other related matters. .
Expansion
The Reserve Bank of India (RBI) has imposed penalty on three co-operative banks for lack of regulatory compliance. Of these, two banks are from Tamil Nadu, while one bank is from Jammu and Kashmir. According to the information shared by the RBI, a total fine of Rs 5 lakh has been imposed on the three co-operative banks.
RBI said in this regard that this penalty has been imposed on banks for lack of regulatory compliance. Under this, the Big Kancheepuram Cooperative Town Bank Ltd. (No. 3) for non-compliance with the instructions issued under the loan rules and statutory/other restrictions of Rs. J&K’s Baramulla Central Co-Operative Bank Ltd. has been fined Rs.2 lakh and Chennai Central Co-operative Bank-Rs.1 lakh for non-compliance of certain directions in matters relating to income recognition, asset classification, provision and other related matters. .