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      Question

      Under RBI's penalty directives, which cooperative bank

      faced the highest fine of Rs. 5 lakhs, and what was the primary reason for this penalty?
      A Sree Charan Souhardha Co-operative Bank Ltd. for not classifying loan accounts properly. Correct Answer Incorrect Answer
      B Sahyog Urban Co-operative Bank Ltd. for not transferring funds to the Depositor Education and Awareness Fund. Correct Answer Incorrect Answer
      C Shree Mahabaleshwar Co-operative Bank Ltd. for lending to directors' relatives. Correct Answer Incorrect Answer
      D Tura Urban Co-operative Bank Ltd. for unauthorized capital expenditure. Correct Answer Incorrect Answer
      E Jambusar People’s Co-operative Bank Ltd. for failing to submit data to CICs. Correct Answer Incorrect Answer

      Solution

      Shree Mahabaleshwar Co-operative Bank Ltd. in Karnataka was fined ₹5 lakh, the highest among the listed penalties, primarily for providing loans to relatives of directors, which is against RBI's lending norms.

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