Question
What penalty amount was imposed on Motiram Agrawal Jalna
Merchants Co-operative Bank by the RBI?Solution
Motiram Agrawal Jalna Merchants Co-operative Bank, located in Maharashtra, was penalized ₹6 lakh by the RBI. The penalty was imposed due to regulatory violations, including sanctioning loans to directors and exceeding exposure limits for a group, contravening RBI guidelines.
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