The Reserve Bank of India has imposed Rs 5 lakh penalty on the Solapur District Central Co-operative Bank. The penalty has been imposed on the bank for violating the provisions of the Banking Regulation Act (As Applicable to Co-operative Societies), as it had granted unsecured loans to companies in which the directors of the board had interest and not reporting the transactions in the relevant monthly statement after sanctioning the loans, the RBI said in a statement........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment