New Delhi, Dec. 7 -- The Reserve Bank of India (RBI) has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: Rajarshi Shahu Sahakari Bank Ltd, The Prathamik Shikshak Sahakari Bank Ltd, Patan Co-operative Bank Ltd, and The District Co-operative Central Bank Ltd. The apex bank also cancelled the licence of a co-operative bank, as the bank does not have adequate capital and earning prospects.

The Reserve Bank imposed a monetary penalty of Rs.1.00 lakh on Rajarshi Shahu Sahakari BankLtd., Pune, Maharashtra for non-compliance with the directions issued by RBI on 'Maintenance of Deposit Accounts - Primary (Urban) Co-operative Banks'. The RBI said theRajarshi Shahu Sahak...