The Reserve Bank of India has imposed a monetary penalty of Rs 5 lakh on The Rajsamand Urban Co-operative Bank Limited for violation of RBI guidelines. “The fine is imposed for violation of RBI instructions /guidelines relating to (i) linking of share capital to borrowings (ii) breach of prescribed individual borrower exposure limit (iii) granted unsecured loans beyond prescribed limit and allowed frequent OD in a CC account beyond prescribed limit (iv) acquisition of non-banking asset,” RBI said in a notification.
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The Reserve Bank of India has imposed a monetary penalty of Rs 5 lakh on The Rajsamand Urban Co-operative Bank Limited for violation of RBI guidelines. “The fine is imposed for violation of RBI instructions /guidelines relating to (i) linking of share capital to borrowings (ii) breach of prescribed individual borrower exposure limit (iii) granted unsecured loans beyond prescribed limit and allowed frequent OD in a CC account beyond prescribed limit (iv) acquisition of non-banking asset,” RBI said in a notification.
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