RBI announced two separate statement

By maheshwari.k

The RBI is centre bank of india made two separate announcement today.

First restriction imposed on four co-operative banks

Saibaba Janata Sahakari Bank, The Suri Friends’ Union Co-operative Bank Ltd, Suri (West Bengal) and National Urban Co-operative Bank Ltd, Bahraich these are the four co-operative banks.

RBI imposed withdrawal restriction on four co-operative banks for the reason of financial position becoming progressive worse under the Banking Regulation Act,1949.

The RBI has been set the withdrawal limit for Saibaba Janata Sahakari Bank at Rs 20,000, The Suri Friends’ Union Co-operative Bank Ltd at Rs 50,000 and National Urban Co-operative Bank Ltd at Rs 10,000. This restriction imposed by RBI will remain in force for 6 months.

The RBI has also imposed several restrictions on United India Co-operative Bank Limited, Bijnor, including a ban on withdrawals of funds by customers

The Reserve Bank has issued separate statements announcing the restrictions on the cooperative banks.

The other one is penalty imposed to suryoday bank

In another statement, the RBI imposed ₹57.75 lakh penalty to suryoday small financial bank for violating the RBI direction. The commercial banks and select FIs report said the suryoday small financial bank violating regard fraud classification.

The examination of the Inspection Report (IR) and all related correspondence pertaining to the Statutory Inspection of the bank (conducted by RBI with reference to its financial position as on March 31, 2019) revealed, inter alia, non-compliance with the aforesaid RBI directions, per a central bank statement.

A notice was issued to that bank for reply why the penalty should not be imposed 

For failure of comply with RBI direction. After consideration of bank reply the centre bank substantiated and warranted the imposition of monetary penalty.