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Brief
On "28/10/2024", the "Reserve Bank of India" issued an update regarding "RBI imposes monetary penalty on Maa Sharda Mahila Nagrik Sahakari Bank Maryadit, Maihar, Madhya Pradesh".
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.00 lakh on Maa Sharda Mahila Nagrik Sahakari Bank Maryadit, Maihar, Madhya Pradesh, for non-compliance with certain directions issued by RBI on ‘Exposure norms & Statutory/ Other Restrictions – UCBs ’.
This penalty is based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard.
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