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RBI imposes monetary penalty on This Bank
RBI
RBI
imposed a monetary penalty of ₹25.00 lakh
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RBI
on G S Mahanagar Co-operative Bank Limited
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RBI
bank had levied penal charges for non-maintenance of minimum balance in savings bank accounts without notice
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RBI
customers and without providing one month time for restoration of the minimum balance in the accounts
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RBI
RBI SAYS -
a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for contravention of the RBI directions
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