RBI imposed penalty on Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd., Nilanga, Maharashtra - ربی - Reserve Bank of India
RBI imposed penalty on Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd., Nilanga, Maharashtra
The Reserve Bank of India has imposed a monetary penalty of ₹1,80,000/- (Rupees One Lakh Eighty Thousand only) on Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd., Nilanga, in exercise of powers vested in it under the provisions of Section 47A (1) (c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of RBI Instructions/Guidelines relating to:
The Reserve Bank of India had issued a Show Cause Notice to the bank, in response to which the bank had not submitted a written reply. After considering the facts of the case, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of penalty. Ajit Prasad Press Release : 2018-2019/1282 |