India, June 19 -- The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 20,000 on Wardha District Ashirwad Mahila Nagari Sahakari Bank Maryadit for non-compliance with RBI guidelines relating to exposure norms and statutory restrictions applicable to urban co-operative banks.
The penalty was levied following an RBI inspection conducted with reference to the bank's financial position as of March 31, 2025. Based on the supervisory findings, the central bank issued a show-cause notice to the bank for violating regulatory requirements.
After examining the bank's response, additional submissions, and oral representations made during the personal hearing, RBI found that the bank had failed to adhere to the prescribed regulatory c...