RBI imposes penalty on Bhavana Rishi Co-operative Urban Bank Ltd., Hyderabad, Telangana

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..... RBI imposes penalty on Bhavana Rishi Co-operative Urban Bank Ltd., Hyderabad, Telangana - News and Press Release Dated:- 28-4-2015 - News - The Reserve Bank of India has imposed a monetary penalty o .....

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..... f ₹ 1.00 lakh (Rupees one lakh only) on the Bhavana Rishi Co-operative Urban Bank Ltd., Hyderabad, Telangana, in exercise of the powers vested in it under the provisions of Section 47A(1)(b) rea .....

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..... d with Section 46(4) of the Banking Regulation Act, 1949(As Applicable to Co-operative Societies), for violation of Section 20A of Banking Regulation Act, 1949 (AACS) and directives/guidelines of the .....

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..... Reserve Bank on loans and advances to directors and their relatives. The Reserve bank of India had issued a show-cause notice to the bank, in response to which the bank submitted a written reply. A .....

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..... fter considering the facts of the case and the bank s reply in the matter, the Reserve Bank of India came to the conclusion that the violations were substantiated and warranted imposition of penalty. .....

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..... Ajit Prasad Assistant General Manager - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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