RBI’s Regulatory Crackdown: ₹8.30 Lakh Fine on Dombivli Bank

RBI’s Regulatory Crackdown: ₹8.30 Lakh Fine on Dombivli Bank

The Reserve Bank of India (RBI) has announced a monetary penalty of ₹8.30 lakh on Dombivli Nagari Sahakari Bank Limited for non-compliance with specific regulatory directions. The order, issued on January 21, 2025, highlights lapses in adherence to the RBI’s guidelines on ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’. This action is in accordance with the authority granted under Section 47A(1)(c), along with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
RBI Slaps Penalties on Four Cooperative Banks for Regulatory Violations

RBI Slaps Penalties on Four Cooperative Banks for Regulatory Violations

Ah, you mean an excerpt! An excerpt is a short extract from a piece of writing, such as an article, blog, book, or report. Here’s an example excerpt from the revised article:"RBI Slaps Penalties on Four Cooperative Banks for Regulatory Violations The Reserve Bank of India (RBI) has imposed penalties on four cooperative banks for non-compliance with regulatory norms, highlighting its commitment to safeguarding customer interests. Violations included improper fund management, failure to meet lending targets, and non-compliance with borrower-friendly guidelines. These actions underscore the need for cooperative banks to strengthen their compliance frameworks and prioritize adherence to RBI directives."