RBI slaps Rs 26-lakh penalty on Nutan Nagarik Sahakari Bank
Mumbai (Maharashtra) [India], January 24 (ANI): The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 26 lakh on Nutan Nagarik Sahakari Bank, Ahmedabad for non-compliance with certain directions of the central bank.
This penalty has been imposed in exercise of the powers vested in RBI conferred under the Banking Regulation Act, 1949, the central bank said.
This action of the central bank is based on a defic