The maximum penalty of Rs 4 lakh has been imposed on Shri Kanyaka Nagari Sahakari Bank, Chandrapur, and Rs 2.50 lakh fine on The Vaidyanath Urban Co-operative Bank, Beed.
A fine of Rs 2 lakh each has been imposed on Y Urban Co-operative Bank, Satara and Indore Premier Co-operative Bank, Indore.
A fine of Rs 1.50 lakh each has been imposed for violation of various norms Patan Nagarik Sahkari Bank, Patan and The Tura Urban Cooperative Bank, Meghalaya. Other banks that have been fined are: Citizen Cooperative Bank Limited, Jagdalpur; Jijau Commercial Cooperative Bank, Amravati; Eastern and North-East Frontier Railway Co-op Bank, Kolkata; District Cooperative Central Bank Limited, Chhatarpur; Nagrik Sahakari Bank Maryadit, Raigarh; District Cooperative Central Bank Limited, Bilaspur; and District Cooperative Central Bank Limited, Shahdol.
in each case, reserve Bank of India The said penalties are based on deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by banks with their customers.