
RBI imposes monetary penalty on five Co-op banks for non-compliance of rules
Mumbai, Dec 15 (UNI) The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 14 lakh on five cooperative banks for non-compliance with rules on Friday. The RBI has taken these actions under Section 47A (1) (C), Section 46 (4) (i) I, and Section 56 of the Banking Regulation Act. However, this…