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of <h1>RBI Fines Jaipur Co-operative Bank Rs. 2 Lakh for Violating Banking Regulation Act, 1949 by Withholding Records.</h1> The Reserve Bank of India imposed a monetary penalty of Rs. 2 lakh on a Jaipur-based urban co-operative bank for violating banking regulations. The penalty was issued under the Banking Regulation Act, 1949, due to the bank's failure to provide necessary records and documents for verification. Despite the bank's written response to a show cause notice, the RBI determined that the violations were substantiated, justifying the penalty.
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