The Gandhidham Mercantile Co-operative Bank Ltd, Dist Kutch (Gujarat) - Penalised

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... The Gandhidham Mercantile Co-operative Bank Ltd, Dist Kutch (Gujarat) - Penalised - News and Press Release Dated:- 15-1-2014 - News - The Reserve Bank of India has imposed a monetary penalty of Rs. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 2.00 lakh (Rupees Two Lakh only) on The Gandhidham Mercantile Co-operative Bank Ltd, Dist. Kutch (Gujarat), in exercise of the powers vested on it under the provisions of Section 47A (1)(b) read with .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of operational instructions issued under Section 36(1) of B.R. Act, 1949 (AACS). The Reserve .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Bank of India had issued a Show Cause Notice to the bank in response to which the bank submitted a written reply. After considering the facts of the case, the bank s reply and also personal submissio .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n in the matter, RBI came to the conclusion that the violation was substantiated and warranted imposition of penalty. Ajit Prasad Assistant General Manager - News - Press release - PIB Tax M .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... anagement India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X