Press Releases

(229 kb)
Date : Oct 11, 2018
Hardoi Zila Sahakari Bank Ltd., Hardoi, Uttar Pradesh - Penalised

The Reserve Bank of India has imposed a monetary penalty of ₹1,00,000/- (Rupees one lakh only) on Hardoi Zila Sahakari Bank Ltd., Hardoi, Uttar Pradesh in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of RBI Instructions/Guidelines on restriction on holding shares in other co-operative societies u/s 19 of the Act, ibid and Non-Publication/non-submission of accounts and balance sheet with the auditor’s report u/s 31 of the Act, ibid.

The Reserve Bank of India had issued a Show Cause Notice to the bank, in response to which the bank had submitted a written reply. After considering the facts of the case, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of penalty.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/857


2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Archives
Server 214
Top