New Delhi: The Reserve Financial institution of India on Wednesday imposed a Rs 6 lakh nice on Himachal Pradesh’s The Mandi Cooperative Financial institution for breaching prudential inter-bank publicity limits in FY22.The Mandi-headquartered financial institution was discovered to be breaching sure limits, warranting the imposition of the financial penalty, as per an official assertion.
The penalty is for non-compliance with provisions of RBI instructions on ‘Placement of Deposits with Different Banks by Main (City) Co-operative Banks (UCBs)’, and as per provisions of the Banking Regulation Act, 1949, the central financial institution mentioned. (Additionally Learn: Reductions On Apple iPhone 15, 14, 13 Obtainable On Flipkart: Examine Present Costs)
The central financial institution additionally imposed a penalty of Rs 1 lakh on West Bengal’s The Howrah District Central Co-operative Financial institution for failing to undertake a periodic replace of KYC (know your buyer) of buyer accounts, and failing to place in place a system of threat categorisation of accounts. (Additionally Learn: WhatsApp Android To Introduce Function For Excessive-High quality Media Sharing)
The RBI has additionally imposed a nice of Rs 75,000 on The Rajapalayam Co-operative City Financial institution, Rajapalayam, Tamil Nadu, for extending loans to family members of administrators, and sanctioning loans to nominal members in extra of the prescribed ceiling in FY22.
It has additionally imposed a penalty of Rs 1 lakh on Mumbai’s Wonderful Co-operative Financial institution for not transferring the eligible quantity to the Depositor Training and Consciousness Fund inside the due date in FY23, as per an official assertion.
The Commonplace City Co-operative Financial institution in Maharashtra’s Aurangabad was levied a nice of Rs 50,000 for not transferring the eligible quantity to the Depositor Training and Consciousness Fund inside the due date in FY23, an announcement mentioned.
