RBI imposes monetary penalty of Rs 2 lakh on Sardargunj Mercantile Co-operative Bank
Mumbai (Maharashtra) [India], December 28 (ANI): The Reserve Bank of India (RBI) on Thursday issued an order imposing a monetary penalty of Rs 2 lakh on Gujarat-based Sardargunj Mercantile Co-operative Bank Limited in Patan, for non-compliance with the directions issued by the central bank on 'Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)'.
The central bank said that the penalty has b