News > RBI imposes a penalty on 3 co-operative banks for deficiencies in compliance 

RBI imposes a penalty on 3 co-operative banks for deficiencies in compliance 

Business Standard | 21/02/2022 10:04 PM | Click to read full article

The Reserve Bank of India (RBI) on Monday said it has imposed penalties on three cooperative banks totalling Rs 5 lakh for deficiencies in regulatory compliance.

A penalty of Rs 2 lakh has been imposed on Baramulla Central Co-operative Bank Limited, Jammu and Kashmir for violation of RBI directions prohibiting the acceptance of fresh deposits, the central bank said in a statement.