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RBI Imposes Rs 59.90 Lakh Penalty On Nashik's Janalaxmi Cooperative Bank

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

Penalty imposed on Nashik's Janalaxmi Cooperative Bank by RBI
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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.

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