RBI penalises The Amravati Zilla Mahila Sahakari Bank Ltd., Amravati

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... RBI penalises The Amravati Zilla Mahila Sahakari Bank Ltd., Amravati
News and Press Release
Dated:- 20-2-2014

The Reserve Bank of India has imposed a monetary penalty of Rs. 5.00 lakh (R .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... upees Five Lakh only) on The Amravati Zilla Mahila Sahakari Bank Ltd., Amravati, in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Section 46(4) of the Banking R .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... egulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the guidelines issued by Reserve Bank of India on diversion of funds. The Reserve Bank of India had issued a show cause .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... notice to the bank, in response to which the bank submitted a written reply. After considering the facts of the case and the bank's reply in the matter, the Reserve Bank came to the conclusion that th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e violation was substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager
News - Press release - PIB .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X