STOCK MARKET BSE NSE

RBI slaps Rs 1 lakh fine on bank

Published: 08th August 2013 11:47 AM  |   Last Updated: 08th August 2013 11:47 AM   |  A+A-

The RBI has slapped Rs1 lakh penalty on Baripada Urban Cooperative Bank Ltd, Baripada, for failing to publish and submit accounts and balance sheet within the stipulated date.

The fine was imposed under provisions of Banking Regulation Act.RBI had issued a show-cause notice to the bank.Considering facts following bank’s response, it was concluded that violation was substantiated and warranted imposition of penalty, an RBI release said.

Stay up to date on all the latest Odisha news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp