CURRENT AFFAIRS : BANKING & FINANCE
RBI imposes monetary penalty on four co-operative banks, one NBFC
- The Reserve Bank of India (RBI) has imposed monetary penalties on 4 co-operative banks and a non-banking financial company (NBFC) for deficiencies in regulatory compliance.
Monetary Penalties :
- Shree Lodra Nagarik Sahakari Bank Limited, located in Gandhinagar, Gujarat, received a monetary penalty of ₹4.00 lakh.
- Malpur Nagarik Sahakari Bank Limited, located in Aravalli, Gujarat, received a monetary penalty of ₹3.50 lakh.
- Jolarpet Co-operative Urban Bank Limited in Vellore, Tamil Nadu, received a monetary penalty of ₹50,000.
- Limbasi Urban Co-operative Bank Ltd., situated in Kheda, Gujarat, received a monetary penalty of ₹25,000.
- Early Salary Services Private Limited, based in Pune, was penalized with a monetary penalty of ₹3.20 lakh.
