RBI Penalty: RBI imposed heavy fine on these 5 banks for violating rules

Chikkamagaluru District Co-operative Central Bank Limited of Karnataka was fined Rs 50,000 for failing to report fraud to NABARD on time. Dindigul Urban Co-operative Bank Limited in Tamil Nadu faced a Rs 25,000 penalty for exceeding loan limits. The Lakshmi Co-operative Bank Limited in Nashik received a hefty fine of Rs 59.90 lakh for various infractions including failing to constitute the Board of Management on time. Solapur Janata Sahakari Bank Limited faced a penalty of Rs 28.30 lakh for governance issues and loan discrepancies. Mathura District Cooperative Bank Limited in Uttar Pradesh was fined Rs 1 lakh for not disposing of property within the specified time.

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