अब पी2पी प्लेटफॉर्म से ले सकेंगे ज्यादा कर्ज, आरबीआई ने बढ़ाई सीमा

RBI imposes penalty on three co-operative banks

Points to Remember:

  • The Reserve Bank of India penalised three cooperative banks Nesargi Urban Co-operative Bank Limited, Krishna Pattana Sahakar Bank Niyamitha and Ron Taluka Primary Teachers’ Cooperative Credit Bank Limitedfor non-submission of returns under Section 27 (2) of the Banking Regulation Act, 1949.
  • Krishna Pattana Sahakar Bank Niyamitha was fined Rs 40,000 while Nesargi Urban Co-operative Bank Limited and Ron Taluka Primary Teachers’ Cooperative Credit Bank was fined Rs 20,000 each.
  • RBI said this action was in exercise of the powers vested in it under the provisions of Section 47 A (1) (c) read with Section 46 (4) of the Banking Regulation Act, 1949 (as applicable to cooperative societies) for non-submission of the returns under Section 27 (2) of the Banking Regulation Act, 1949 (AACS).
  • The Reserve Bank of India said it had issued a show-cause notice to the banks, in response to which the bank sought personal hearing.
Important Possible questions based on above News:
  1. Recently RBI has imposed a penalty of Rs. 40000 on which co-operative bank for non-submission of returns under Section 27 (2) of the Banking Regulation Act, 1949? Krishna Pattana Sahakar Bank Niyamitha
  2. Recently under which section of the Banking Regulation Act 1949, the Reserve Bank of India (RBI) has fined three cooperative banks including Nesargi Urban Cooperative Bank Limited for non-submission of returns? Section 27 (2)

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