CURRENT AFFAIRS

Detailed explanation-1: -Press Releases. The Reserve Bank of India (RBI) has imposed, by an order dated January 31, 2023, a monetary penalty of ₹15.00 lakh (Rupees Fifteen lakh only) on The Utkal Cooperative Bank Ltd.

Detailed explanation-2: -The Reserve Bank of India (RBI) has, by an order dated December 12, 2022, imposed a monetary penalty of ₹2.66 crore (Rupees Two crore sixty-six lakh only) on Bank of Bahrain & Kuwait BSC, India Operations (the bank) for non-compliance with directions issued by RBI on “Cyber Security Framework in Banks”.

Detailed explanation-3: -The Reserve Bank of India (RBI) on January 2 imposed a monetary penalty on four cooperative banks for rule violations. These banks are Baghat Urban Co-operative Bank, the Sahebrao Deshmukh Cooperative Bank, Sharad Sahakari Bank and Col. R.D. Nikam Sainik Sahakari Bank.

Detailed explanation-4: -The Reserve Bank of India (RBI) on Monday informed that it has imposed monetary penalties on nine cooperative banks from six states for non-compliance with various provisions.