RBI imposes Rs 90 lakh penalty on Vasai Vikas Sahakari Bank

In a statement, the Reserve Bank said the bank had not complied with its directions on ensuring end-use of funds in borrowal accounts and classification of loans/ advances as non-performing assets, specific direction of RBI for ensuring that the bank's balance sheet and profit and loss account are signed by at least three of its directors.

from Banking/Finance-Industry-Economic Times https://ift.tt/3CgyeWN