Shri B.J.Khatal Janata Sahakari Bank Ltd., Sangamner, Maharashtra - Penalised - ਆਰਬੀਆਈ - Reserve Bank of India
Shri B.J.Khatal Janata Sahakari Bank Ltd., Sangamner, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (rupees five lakh only) on the Shri B.J.Khatal Janata Sahakari Bank Ltd., Sangamner, Maharashtra for violation of the Reserve Bank of India’s directives prohibiting loans and advances to directors and their relatives and the firms/companies/concerns in which they are interested with effect from the October 1, 2003. The penalty was imposed in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies)µ Ajit Prasad Press Release :2006-2007/1767 |