29/2/2024, 4:05:06 pm

RBI imposes monetary penalty on two co-operative banks for rule violations

RBI on February 29 said it has imposed monetary penalty on 2 co-operative banks for rule violations. These banks are Noble Co-operative Bank Limited and Adarsh Mahila Co-operative Bank Limited, which were penalised Rs 5 lakh each by the central bank. Adarsh Mahila Co-operative Bank was penalised as the bank had sanctioned a loan where a relative of one of the directors of the bank was interested.