https://www.taxtmi.com/news?id=11490 Reserve Bank of India, relying on Section 47A(1) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co operative Societies), treated the bank's donations in excess of the prescribed ceiling as a violation of RBI instructions. After issuing a show cause notice and considering the bank's written reply and personal submissions, the Reserve Bank found the contravention substantiated and proceeded to impose a monetary sanction pursuant to its statutory enforcement powers. en-us Wed, 07 Aug 2013 11:21:36 +0530 Wed, 07 Aug 2013 11:21:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11490 Reserve Bank of India, relying on Section 47A(1) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co operative Societies), treated the bank's donations in excess of the prescribed ceiling as a violation of RBI instructions. After issuing a show cause notice and considering the bank's written reply and personal submissions, the Reserve Bank found the contravention substantiated and proceeded to impose a monetary sanction pursuant to its statutory enforcement powers. News - Wed, 07 Aug 2013 11:21:36 +0530 https://www.taxtmi.com/news?id=11490