TaxTMI 
TaxTMI 
RBI penalises Shree Vardhaman Sahakari Bank Ltd. Vadodara (Gujarat)
X X X X Extracts X X X X
X X X X Extracts X X X X
....BI penalises Shree Vardhaman Sahakari Bank Ltd. Vadodara (Gujarat) <br>News and Press Release<br>Dated:- 3-1-2014<br><BR>The Reserve Bank of India has imposed a monetary penalty of Rs.1.00 lakh (Rupee....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s one lakh only) on Shree Vardhaman Sahakari Bank Ltd. Vadodara (Gujarat) in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulati....
X X X X Extracts X X X X
X X X X Extracts X X X X
....on Act, 1949 (As applicable to Co-operative Societies), for violation of operational instructions issued by RBI under section 36(1) of the Banking Regulation Act, 1949 (AACS). The Reserve Bank of Ind....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ia had issued a show cause notice to the bank based on the finding of inspection for the financial position as on March 31, 2013, in response to which the bank submitted a written reply and made perso....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nal submission to the Regional Director, RBI, Ahmedabad. After considering the facts of the case, the bank's reply in the matter, the Reserve Bank of India came to the conclusion that the violation wa....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager<BR> News - Press release - PIB....