New Delhi: The Reserve Bank of India (RBI) is continuously taking steps to improve the banking system. In this series, RBI has stated that it has imposed a total fine of Rs 10 lakh on four cooperative banks for deficiencies in compliance with the rules. According to media reports, the central bank said that Jowai Co-operative Urban Bank Limited has been fined Rs five lakh.

Additionally, Krishnanagar City Co-operative Bank Limited and Tura Urban Co-operative Bank Limited have been fined Rs 1 lakh each. The RBI has also imposed a fine of Rs 1 lakh on the Co-operative Urban Bank Limited. RBI said action has been taken against banks due to deficiencies in regulatory compliance. The RBI earned a net profit of $ 9.814 billion in June.

This is the second consecutive month when the central bank has been a net seller of dollars. Information about this is given in the Reserve Bank data. According to RBI data, in the month under review, the central bank bought $ 14.847 billion from the spot market, while it sold $ 5.033 billion during this period. In May, the Reserve Bank bought $ 4.663 billion and sold $ 300 million. As such, it made net purchases of $ 4.363 billion.

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