The Mehsana Urban Co-operative Bank Ltd. - Penalised - ஆர்பிஐ - Reserve Bank of India
The Mehsana Urban Co-operative Bank Ltd. - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines relating to admission of co-operative societies as nominal members in violation of provisions of Section 5(ccv) of B.R.Act, 1949 (AACS), bank's exposure to real estate beyond the permissible limit, violation of Know Your Customer (KYC) norms and violation of Section 20 A of the B.R.Act 1949 (AACS) in respect of waiving of interest on a director related advance. Ajit Prasad Press Release : 2011-2012/70 |