RBI imposes monetary penalty on 5 cooperative banks for rules violation
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RBl has imposed a monetary penalty on five cooperative banks for some contravention or for non-compliance with varied central bank directions. According to an RBI release, the monetary penalties imposed on the entities range from Rs 50,000 to Rs 3 lakh. The Risk Assessment Report of the bank based on its financial position as on March 31, 2021, revealed, that these have contravened or were non-compliant to various directions of RB
