RBI imposes monetary penalty on 8 cooperative banks

Mumbai [India], January 24 (ANI): The Reserve Bank of India (RBI) on Monday imposed penalties on eight cooperative banks due to deficiencies in regulatory compliance.

The cooperative banks that have been penalised include Rajkot Peoples Co-operative Bank Ltd, Rajkot (Gujarat); Vasai Janata Sahakari Bank Ltd, Palghar; Mogaveera Co-operative Bank Ltd., Mumbai; The Varachha Co-operative Bank Ltd., Surat (Gujarat); The Associ