RBI Action: RBI imposed penalty of lakhs of rupees on these 4 banks, guidelines were violated

Heavy fines have been imposed on banks: Heavy fines have been imposed on many banks by the Reserve Bank of India. According to the information received, a fine of Rs 6 lakh has been imposed on 4 different banks by the Reserve Bank of India (RBI). Actually, rules for regulation of banks have been decided by RBI. If any bank violates these rules across the country, then heavy fines are imposed on it.

The bank has imposed heavy fine on 4 cooperative banks. Of these, 2 banks are from Gujarat and 2 banks are from Bengal. It has been clearly stated that if banks do not follow RBI directions then heavy fines are imposed on them.

How much fine has been imposed?

Let us tell you that in Gujarat, a fine of Rs 2 lakh has been imposed on Gandevi People’s Cooperative Bank and Rs 1.50 lakh on Karnavati Cooperative Bank.

Whereas in Bengal, a fine of Rs 1.50 lakh has been imposed on Vidyasagar Central Cooperative Bank and Rs 1 lakh has been imposed on Santragachi Cooperative Bank Ltd. The penalty is paid by the banks and the customers have nothing to do with it.