https://www.taxtmi.com/news?id=14380 The Reserve Bank imposed a monetary penalty on Bhavana Rishi Co-operative Urban Bank Ltd. under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of Section 20A and non compliance with RBI directives on loans and advances to directors and their relatives. The action followed issuance of a show cause notice, receipt of the bank's written reply, and the Reserve Bank's conclusion that the violations were substantiated and warranted a penalty. en-us Tue, 28 Apr 2015 13:19:08 +0530 Tue, 28 Apr 2015 13:19:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14380 The Reserve Bank imposed a monetary penalty on Bhavana Rishi Co-operative Urban Bank Ltd. under Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of Section 20A and non compliance with RBI directives on loans and advances to directors and their relatives. The action followed issuance of a show cause notice, receipt of the bank's written reply, and the Reserve Bank's conclusion that the violations were substantiated and warranted a penalty. News - Tue, 28 Apr 2015 13:19:08 +0530 https://www.taxtmi.com/news?id=14380