RBI slaps over ₹67 lakhs monetary penalty on 4 co-operative banks, 1 NBFC. Details here
The Reserve Bank has imposed monetary penalties on four cooperative banks and a non-banking finance company (NBFC) for lapses in regulatory compliance. The cooperative banks are: Nasik Merchant’s Co-operative Bank Ltd, Mehsana Urban Co-operative Bank Ltd, Sangli Sahakari Bank Ltd, Pudukkottai Co-operative Town Bank Ltd and the NBFC is Sappers Finance and Consultancy Private Ltd.
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