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RBI recently imposed a penalty of Rs 50.35 lakh on which of the following bank?
A)
Janalaxmi Co-operative Bank
B)
Abhyudaya Cooperative Bank Limited
C)
Citizen Credit Cooperative Bank Limited
D)
Arunachal Pradesh State Co Operative Apex Bank Ltd

Correct Answer :   Janalaxmi Co-operative Bank


Reserve Bank of India has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements.
 
The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on 'Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks' and 'Membership of Credit Information Companies (CICs)'.

Published On : August 4, 2021
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