There is a big news about the Reserve Bank of India (RBI). In fact, the RBI has once imposed heavy penalties on many banks. This penalty has been imposed on behalf of the central bank after the lapses in compliance with the non-bailers. In fact, just a few days ago, the RBI had imposed a penalty on three banks.

It is now reported that the banks have been fined, they are cooperative banks. The RBI has imposed a penalty of Rs 4 lakh on Nabapalli Co-operative Bank Limited (West Bengal) for not complying with the directions under the 'Disclosure Norms and Statutory/Other Restrictions UCB'. Yes and apart from this, the Bagat Urban Co-operative Bank Limited (Himachal Pradesh) has been fined Rs.3 lakh.

Apart from all this, the RBI has also imposed penalties on Manipur Mahila Sahakari Bank Limited (Manipur), United India Co-operative Bank Limited (Uttar Pradesh), District Co-operative Central Bank (Narsinghpur), Amravati Merchant Co-operative Bank Limited (Amravati), Faiz Mercantile Co-operative Bank Limited (Nashik) and Navnirman Co-operative Bank Limited (Ahmedabad).

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