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RBI imposes penalty on Kangra Central Co-operative Bank Limited, Kangra, Himachal Pradesh

The Reserve Bank of India imposed a penalty of Rs.5,00,000/- (Rupees five lakh only) on Kangra Central Co-operative Bank Limited, Kangra, Himachal Pradesh, under Section 46(4) read with Section 47(A)(1)(b) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) for violation of instructions/guidelines issued by the Reserve Bank in regard to non-SLR investment.

P.V.Sadanandan
Manager

Press Release: 2005-2006/408

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