Reserve Bank imposed heavy penalty on these 13 banks, know what was the reason

RBI Penalty on Banks: Reserve Bank of India (RBI Impose Penalty) has imposed penalty on 13 corporate banks of the country. The RBI said on Monday that this penalty has been imposed for ignoring and not following the rules. RBI has imposed a fine ranging from Rs 50 thousand to Rs 4 lakh on these banks. Let us know on which 13 banks the Reserve Bank of India has imposed penalty (Penalty on 13 Cooperative Banks).

The Reserve Bank has imposed the highest penalty of Rs 4 lakh on Shri Kanyaka Nagari Sahakari Bank, Chandrapur, (Shri Kanyaka Nagari Sahakari Bank) and Rs 2.5 lakh on Vaidyanath Urban Co-operative Bank, Beed. . After this, a fine of Rs 2 lakh has been imposed on Wai Urban Co-operative Bank, Satara and Indore Premier Co-operative Bank, Indore.

RBI imposed a fine of 1.50 lakh on these banks

Patan Nagarik Sahakari Bank, Patan and The Tura Urban Cooperative Bank, Meghalaya each fined Rs 1.50 lakh each for violation of different norms Is. Apart from this, some other banks have also been fined.

RBI imposed penalty on these banks as well

Nagarik Sahakari Bank Maryadit, Jagdalpur; Jijau Commercial Cooperative Bank, Amravati; Eastern and North-East Frontier Railway Co-op Bank, Kolkata; District Cooperative Central Bank Limited, Chhatarpur; Nagrik Sahakari Bank Maryadit, Raigarh; District Cooperative Central Bank Limited, Bilaspur; And District Cooperative Central Bank Limited, Shahdol has imposed penalty on cooperative banks.

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what will happen to these customers

The RBI said the penalty has been imposed for deficiencies in regulatory compliance and will not affect the validity of any transaction or agreement entered into by the banks with their customers. This means that it will not have any effect on the customers.

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