Case Brief
The Reserve Bank of India imposed a monetary penalty on Nashik Jillha Girna Sahakari Bank Ltd., Nashik by order dated September 23, 2020. RBI found that the bank had contravened Section 15 of the Credit Information Companies (Regulation) Act, 2005, including non-compliance relating to obtaining membership of a credit information company. The action was taken under Section 25(1)(iii) read with Section 23(4) of the CIC Act after a show-cause process.
Action Snapshot
- Primary Impact
- Fine: Rs 2,000
- Entity Type
- Co-operative bank
- Location
- Nashik, Maharashtra
- Order Date