RBI imposes Monetary Penalties on Four Co-operative Banks of Gujarat and West Bengal for Non-Compliance with Regulatory Directions [Read Order]

RBI - Monetary Penalties - Four Co-operative- Banks - Gujarat - West Bengal - Non-Compliance - Regulatory Directions-TAXSCAN

The Reserve Bank of India (RBI) has imposed a monetary penalty of rupees 6 lakhs on 4 Co-operative Banks of Gujarat and West Bengal for non-Compliance with regulatory directions. The co-operative banks are: Santragachi Co-operative Bank Ltd., West Bengal, Vidyasagar Central Co-operative Bank Limited, Midnapore, West Bengal, Karnavati Co-operative Bank Ltd., Ahmedabad, Gujarat and Gandevi…

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