The Solapur District Central Co-op. Bank Ltd. penalized

The word ‘Solapur’, evokes memories of bedsheets and towels. Yes, Solapur is famous for its textiles.

Solapur is also the home of ‘The Sholapur District Central Co-op. Bank Ltd.’

he above co-operative in violation of RBI guidelines, granted unsecured laons to companies in which the directors of the Board had interest. Further, the cooperative bank, did not report the transactions in the relevant monthly Statement – Form II after sanctioning of the loans.

Hence, Reserve Bank of India,imposed a monetary penalty of Rs5.00 lakh (Rupees Five Lakh only) on the Solapur District Central Co-op. Bank Limited, Solapur (Maharashtra).

The Sholapur District Central Co-operative Bank was registered in 1918 and is part of the working as a federal financing agency catering for the credit requirements of all the primary credit societies in the district. Since 1962 the Sholapur Zilla Parishad also transacts its financial business through this bank.

Solapur is well known in the pilgrim circuit. The temple prasadam has a specialty called ‘lapshi’.

‘Laphsi’, is type of topping on the rice. This is made of broken wheat, mixed with jiggery or sugar, to give it a distinctive taste.

Re-disseminated by Prashant n. Banker by daytime, blogger by night. Email me @ NSHANTIN (at) gmail