SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Other Links   Extra Curricular
Search
Period
From  
To  
Archives
   
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (212.00 kb ) version to your machine and then use respective software to print the story.
Date: 24/12/2018
RBI imposes penalty on Walchandnagar Sahakari Bank Ltd., Walchandnagar, District Pune

The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on the Walchandnagar Sahakari Bank Ltd., Walchandnagar, District Pune in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of RBI directive/instructions, delayed/non-submission of compliance to various irregularities observed during RBI inspection in the years 2014 and 2016 and non-submission of reply to Show Cause Notices issued to the bank by RBI.

After considering the facts of the case, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of penalty.

Ashish Daryani
Assistant Manager

Press Release : 2018-2019/1445

 
  © Reserve Bank of India. All Rights Reserved.

Best viewed in 1024x768 resolution in IE 5 and above.