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Brief
"On "28/10/2024", the "Reserve Bank of India" issued an update regarding "RBI imposes monetary penalty on Prerna Nagari Sahakari Bank Limited, Aurangabad, Maharashtra".
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prerna Nagari Sahakari Bank Limited, Aurangabad, Maharashtra for non-compliance with certain directions issued by RBI on 'Loans and advances to direct ors, their relatives, and firms /concerns in which they are interested'.
This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
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