The Reserve Bank on Tuesday said it has imposed a penalty of Rs 59.90 lakh on Nashik-based Janalaxmi Cooperative Bank for non-compliance with regulations.
The bank was served with a show cause notice, after which the penalty was imposed in exercise of powers under the sections of the Banking Regulation Act
The Reserve Bank on Tuesday said it has imposed a penalty of Rs 59.90 lakh on Nashik-based Janalaxmi Cooperative Bank for non-compliance with regulations.
The bank was served with a show cause notice, after which the penalty was imposed in exercise of powers under the sections of the Banking Regulation Act, an official statement said.