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Brief
"On 04/11/2024", the "Reserve Bank of India" issued an update regarding "RBI imposes monetary penalty on Tura Urban Co-operative Bank Ltd., Tura, Meghalaya".
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on Tura Urban Co-operative Bank Ltd., Tura, Meghalaya for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF).
The bank had incurred capital expenditure exceeding ₹ 25,000/- per year without prior approval of RBI and sanctioned fresh loans in excess of the exposure limit prescribed under SAF.
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