Legal action is taken against banks: For proper regulation of banks, it is necessary to follow the guidelines given by RBI. If any bank does not follow these rules then legal action is taken against it.
RBI inspects banks from time to time and imposes fines on them depending on the mistake. Once again the Reserve Bank has imposed fine on four banks.
The names of these banks are as follows: It has been informed that the names of these banks are Gujarat Mercantile Co-operative Bank Ltd, Nagarik Sahakari Bank Ltd, Makarpura Industrial Estate Co-operative Bank Ltd and The Sevalia Urban Co-operative Bank. Ltd. A deposit of lakhs of rupees has been imposed on all these banks. There is an appeal to follow various rules.
Let us tell you that a fine of ₹ 4.50 lakh has been imposed on Gujarat Mercantile Co-operative Bank. This bank is accused of violation of (CRR) and UCBs related rules.
A fine of Rs 2 lakh has been imposed on Nagarik Sahakari Bank Ltd. West End Housing Finance Limited has been fined ₹1.70 lakh.
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