MUMBAI, India, Feb. 17 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBl) has, by an order dated February 13, 2025, imposed a monetary penalty of ₹25,000/- (Rupees Twenty Five Thousand only) on The Dhule and Nandurbar District Central Co-operative Bank Ltd., Dhule, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on 'Membership of Credit Information Companies (CICs) by Co-operative Banks'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 25 of the Credit Information Companies (Regulation) Act, 2005.
The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (N...