Reserve Bank of India Levies ₹4.00 Lakh Penalty on Shri Kanyaka Nagari Sahakari Bank Ltd. for KYC Violations

Mumbai, December 12, 2022: The Reserve Bank of India (RBI) has taken strict action against Shri Kanyaka Nagari Sahakari Bank Ltd., Chandrapur, Maharashtra, imposing a monetary penalty of ₹4.00 lakh for non-compliance with Know Your Customer (KYC) directives issued to Urban Co-operative Banks. This penalty, announced through an order dated December 05, 2022, falls under…

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