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The Reserve Bank of India (RBI) has imposed a fine of Rs 27.5 lakh on Dhanlaxmi Bank for violating the rules relating to depositors’ education and awareness fund scheme.
In addition, Gorakhpur-based Multi-State Primary Cooperative Bank of North East (NEE) and Middle Eastern (EC) railway employees have been fined Rs 20 lakh for violating certain rules. RBI a Dhanalakshmi said in the statement The bank has been fined for violating a section of the Banking Regulation Act, 1949.
The Reserve Bank of India (RBI) on Monday said it has imposed a fine of Rs 20 lakh on Gorakhpur-based Multi-State Primary Cooperative Bank of North East (NEE) and Middle Eastern (EC) railway employees for violating certain rules. . The RBI said in a statement that the bank’s inspection report on March 31, 2019, based on the bank’s financial position, revealed non-compliance or violation of special instructions issued under the Supervisory Action Framework (SAF).
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