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RBI imposes Rs 1 lakh penalty on CKP Co-op Bank

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Press Trust of India Mumbai
Last Updated : Jan 20 2013 | 8:47 PM IST

The Reserve Bank of India has imposed a monetary penalty of Rs 1 lakh on The CKP Co-operative Bank, Mumbai, for violation of the apex bank's instructions/guidelines on Know Your Customers norms, a press release issued here today said.  

The Reserve Bank had issued a show-cause to the bank, to which the bank submitted a written reply.  

Based on the reply, the RBI came to the conclusion that the violation was substantiated and warranted imposition of penalty, the release said.

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First Published: May 15 2009 | 6:32 PM IST

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