RBI imposes monetary penalty on The Udgir Urban Co-operative Bank Limited, Udgir, Maharashtra

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Document Summary:

The document is a notice issued by RBI (Reserve Bank of India) to a bank in response to its failure to comply with RBI's directions. The notice imposes a monetary penalty on the bank. The bank has been issued a notice to show cause why this penalty should not be imposed. The RBI has considered the bank's reply and has decided to proceed with the penalty. The penalty does not prejudice any other action that may be initiated by RBI against the bank. The document is a formal warning to the bank to comply with RBI's directions and to avoid any further regulatory non-compliance.

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