CURRENT AFFAIRS

Detailed explanation-1: -This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Detailed explanation-2: -Ambedkar Nagarik Sahakari Bank Maryadit, Gwalior (M.P) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions and Know Your Customer (KYC).

Detailed explanation-3: -RBI imposes monetary penalty on Kotak Mahindra Bank Limited This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Act.

Detailed explanation-4: -The Reserve Bank of India (RBI) has imposed, by an order dated July 21, 2022, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The United Puri-Nimapara Central Co-operative Bank Ltd., (the bank) for contravention of/ non-compliance with the directions issued by RBI on Know Your Customer (KYC).