Follow us:WhatsappFacebookTwitterTelegram.cls-1{fill:#4d4d4d;}.cls-2{fill:#fff;}Google NewsThe Reserve Bank of India has imposed a penalty of Rs 5 lakh on Ernakulam District Cooperative Bank Limited (EDCB) for granting unsecured loans to the Mithra Agricultural Produce Committee (MAPC).The RBI had issued a showcause notice to the bank, in response 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 the imposition of the penalty.first published:January 01, 1970, 05:30 ISTlast updated:January 01, 1970, 05:30 IST
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The Reserve Bank of India has imposed a penalty of Rs 5 lakh on Ernakulam District Cooperative Bank Limited (EDCB) for granting unsecured loans to the Mithra Agricultural Produce Committee (MAPC).
The RBI had issued a showcause notice to the bank, in response 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 the imposition of the penalty.
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