RBI imposes monetary penalty of Rs 5 lakh on Sankheda Nagarik Sahakari Bank
Mumbai (Maharashtra) [India], January 4 (ANI): Reserve Bank of India on Thursday said that it has imposed a monetary penalty of Rs 5 lakh on Sankheda Nagarik Sahakari Bank Limited, which is based in Sankheda, Chhotaudepur, Gujarat.
RBI said that by an order dated December 7, 2023, it has imposed a monetary penalty on the bank for non-compliance with its directions on 'Loans and advances to directors, relatives and firms/c