RBI imposes Rs 1 crore fine on Janata Sahakari Bank, Rs 25 lakh on Jalgaon Peoples Co-operative Bank

The RBI has imposed, by order dated October 16, monetary penalty of Rs 1 crore on Janata Sahakari Bank, Pune, for non-compliance with directions issued on income recognition and asset classification (IRAC) norms, management of advances and exposure norms and statutory or other restrictions.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2NzEfGj