Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 202)
202.
What led the Reserve Bank of India (RBI) to impose monetary penalties on five cooperative banks, including Indapur Urban Co-operative Bank and Janakalyan Sahakari Bank?
Financial Mismanagement
Regulatory Compliance Deficiencies
Customer Service Issues
Technological Failures
Answer: Option
Explanation:
The RBI imposed penalties on these cooperative banks due to deficiencies in regulatory compliance, emphasizing the need to address gaps in adhering to banking regulations. The cooperative banks include Indapur Urban Co-operative Bank Ltd, Janakalyan Sahakari Bank Ltd, The Patan Urban Co-operative Bank Ltd, Pune Merchants Co-operative Bank Ltd, and Pune Municipal Corporation Servant’s Co-operative Urban Bank Ltd.
Discussion:
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