Question
Which of the following statements about the RBI's
monetary penalties on cooperative banks is/are correct? 1. Shikshak Sahakari Bank Limited, Nagpur, has been penalized ₹23.30 lakh for non-compliance with operational instructions. 2.₹5.00 lakh (Rupees Five lakh only) on Noble Co-operative Bank Limited, Noida, Uttar Pradesh (the bank) for non-compliance with the specific directions issued by RBI under the Supervisory Action Framework (SAF).. 3. The penalty on Progressive Co-operative Bank Limited, Mumbai, is ₹5.00 lakh for non-compliance with Exposure Norms and Statutory/Other Restrictions.Solution
•   The Reserve Bank of India (RBI) has imposed a monetary penalty of : 1.  ₹23.30 lakh (Rupees Twenty-three lakh and Thirty thousand only) on Shikshak Sahakari Bank Limited, Nagpur (the bank) for non-compliance with operational instructions issued by RBI under ‘Supervisory Action Framework for Primary (Urban) Co-operative Banks (UCBs)’. 2.   ₹1.00 lakh (Rupees One lakh only) on Progressive Co-operative Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’ and ‘Investments by Primary (Urban) Co-operative Banks’. 3.   ₹5.00 lakh (Rupees Five lakh only) on Solapur District Central Co-operative Bank Limited, Solapur, Maharashtra (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and the directions issued by RBI on the Depositor Education and Awareness Fund. 4.   ₹5.00 lakh (Rupees Five lakh only) on Noble Co-operative Bank Limited, Noida, Uttar Pradesh (the bank) for non-compliance with the specific directions issued by RBI under the Supervisory Action Framework (SAF). 5.   ₹5.00 lakh (Rupees Five lakh only) on Adarsh Mahila Co-operative Bank Limited, Muzaffarnagar, Uttar Pradesh (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’ and specific directions issued by RBI under the Supervisory Action Framework (SAF). Learn Along About RBI Founded: 1 April 1935             Headquarters: Mumbai                Governor: Shaktikanta Das
Two goods will be classified as ______ if the cross-price elasticity between them is negative.
Elephant Bonds were proposed to be issued to recover undisclosed offshore income of people, funds from which would be used for infrastructure. What is ...
A company earns profit of Rs.175000 in the first year of operations. It’s issued capital consists of 70,000 shares of Rs.10 each. If the market value ...
In case of banks, CRAR is calculated as which among the following?
With the objective to better align the guidelines of RBI with the BCBS (BASEL Committee on Banking Supervision) standard and enable banks to manage liqu...
Which of the following ratios can help compare the operational efficiency of different entities?
The ratio of a firm’s property, plant, and equipment, net of accumulated depreciation, to its annual depreciation expense is an estimate of:
`Which of the following financial reports are considered to be of lowest quality? Financial reports that reflect:
An agreement sold over an exchange to buy/sell a commodity or financial instrument at a designated future date is known as:
Calculate the Return on Capital employed of JKL Ltd based on given information?