The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions on director related loan accounts.
The result of the RBI Reverse Repo auction held on September 6, 2011 are:
The Results of the auctions of 10-year State Development Loans, 2021 for Five State Governments held on September 6, 2011.
1. Indian Banks’ Association (IBA) will standardise most important terms and conditions (MITC) for at least ten important banking transactions and circulate among banks for adaptation.
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