Press Releases issued by different offices of Cooperative Societies from Maharashtra
Mumbai, September 28, 2023: In a recent development, the Reserve Bank of India (RBI) has taken decisive action against Bassein Catholic Co-operative Bank Ltd., located in Vasai, Maharashtra. By virtue of an order issued on September 22, 2023, the RBI has imposed a monetary penalty amounting to ₹25 lakh (Rupees Twenty-Five lakh only) on the…
Mumbai, September 28, 2023: The Reserve Bank of India (RBI) has taken stern action against Saraswat Co-operative Bank Limited, Mumbai, by imposing a monetary penalty of ₹23 lakh. This penalty comes as a consequence of the bank’s contravention of the provisions of Section 20(1)(b)(iii) read with Section 56 of the Banking Regulation Act, 1949 (BR…
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…
Mumbai, 12th December, 2022: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.50 lakh on The Vaidyanath Urban Co-operative Bank Ltd., Beed, Maharashtra, for non-compliance with Know Your Customer (KYC) directives issued by the central bank. The penalty was levied on December 05, 2022, under the provisions of Section 47 A…
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