RBI slaps penalties on 9 cooperative banks for violating compliances

These banks include The Berhampur Cooperative Urban Bank, The Kendrapara Urban Co-operative Bank, The Jamshedpur Urban Cooperative Bank, Krishna Mercantile Co-operative Bank, Renuka Nagarik Sahakari Bank Maryadit, Jila Sahakari Kendriya Bank Maryadit, Osmanabad Janata Sahakari Bank, The Santrampur Urban Co-operative Bank, and The Nawanagar Co-operative Bank. The monetary penalties slapped on these banks range from Rs 25,000 to Rs 3.1 lakh, RBI said in nine standalone statements on Monday.