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The Reserve Bank of India imposed a penalty
of Rs.5,00,000/- (Rupees five lakh only) on Kangra Central Co-operative Bank
Limited, Kangra, Himachal Pradesh, under Section 46(4) read with Section 47(A)(1)(b)
of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies)
for violation of instructions/guidelines issued by the Reserve Bank in regard
to non-SLR investment.
P.V.Sadanandan
Manager
Press Release: 2005-2006/408
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