The Reserve Bank of India has imposed a monetary penalty of Rs1.00 lakh (Rupees One Lakh only) on the Karjan Nagrik Sahakari Bank Ltd., Karjan Dist. Vadodara (Gujarat).
This penalty was for violation of RBI instructions relating to KYC norms. The KYC norms are a set of rules to assist bankers to adhere to good banking practices.
- RBI imposes penalty on The Karjan Nagarik Sahakari Bank Ltd., Karjan, District Vadodara (Gujarat) (simplybanking.wordpress.com)
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