RBI imposes monetary penalty on The Nawadah Central Co-operative Bank Limited, Bihar

News Financial services Sanctions & Fines

Date: 18th Nov, 2024 Source: Reserve Bank of India Country: India Original Source

Brief

"On November 18, 2024, the Reserve Bank of India issued an update regarding RBI imposes monetary penalty on The Nawadah Central Co-operative Bank Limited, Bihar. The RBI imposed a monetary penalty of ₹1.25 lakh on the bank for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co -operative Banks’ and ‘Know Your Customer (KYC) ’."

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RBI imposes monetary penalty on The Nawadah Central Co-operative Bank Limited, Bihar

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RBI imposes monetary penalty on The Nawadah Central Co-operative Bank Limited, Bihar

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Reserve Bank of India

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