https://www.taxtmi.com/news?id=12475 Non-disclosure of a bank guarantee by Kisan Nagari Sahakari Bank Maryadit violated disclosure obligations under Sections 35(2) and 46(1) of the Banking Regulation Act and RBI directives on guarantees, co-acceptance and letters of credit. The Reserve Bank issued a show cause notice, considered the bank's written reply, found the violations substantiated and exercised its powers under Section 47A(1)(b) read with Section 46(4) to impose a monetary penalty. en-us Tue, 18 Feb 2014 18:57:33 +0530 Tue, 18 Feb 2014 18:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=12475 Non-disclosure of a bank guarantee by Kisan Nagari Sahakari Bank Maryadit violated disclosure obligations under Sections 35(2) and 46(1) of the Banking Regulation Act and RBI directives on guarantees, co-acceptance and letters of credit. The Reserve Bank issued a show cause notice, considered the bank's written reply, found the violations substantiated and exercised its powers under Section 47A(1)(b) read with Section 46(4) to impose a monetary penalty. News - Tue, 18 Feb 2014 18:57:33 +0530 https://www.taxtmi.com/news?id=12475