RBI imposes monetary penalty on The Vijay Commercial Co-operative Bank Ltd., Rajkot, Gujarat

News Financial services Sanctions & Fines

Date: 21st Nov, 2024 Source: Reserve Bank of India Country: India Original Source

Brief

"On November 21, 2024, the Reserve Bank of India issued an update regarding RBI imposes monetary penalty on The Vijay Commercial Co-operative Bank Ltd., Rajkot, Gujarat. A monetary penalty of ₹1.00 lakh was imposed for non-compliance with Know Your Customer (KYC) norms and failure to carry out periodic review of risk categorisation of certain accounts."

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Reserve Bank of India

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RBI imposes monetary penalty on The Vijay Commercial Co-operative Bank Ltd., Rajkot, Gujarat

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RBI imposes monetary penalty on The Vijay Commercial Co-operative Bank Ltd., Rajkot, Gujarat

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Reserve Bank of India

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