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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?

Q: Answer-Under RBI's penalty directives, which cooperative bank faced the highest fine of Rs. 5 lakhs, and wh...

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 RBIs lending norms.

A Sree Charan Souhardha Co-operative Bank Ltd. for not classifying loan accounts properly.

B Sahyog Urban Co-operative Bank Ltd. for not transferring funds to the Depositor Education and Awareness Fund.

C Shree Mahabaleshwar Co-operative Bank Ltd. for lending to directors' relatives.

D Tura Urban Co-operative Bank Ltd. for unauthorized capital expenditure.

E Jambusar People’s Co-operative Bank Ltd. for failing to submit data to CICs.

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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?

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