Gandhidham Mercantile Co-op Bank penalized
A statement issued by the Reserve Bank of India informs that Gandhidham Mercantile Cooperative Bank in Kutch in Gujarat has to pay a fine of Rs. 5 lakh for violating various guidelines. The release blames the co-op bank of faulting on disclosure of monetary penalty in public domain, money laundering and intra-day overdrawals. Besides, the GMCB has been found guilty of violation of norms on giving money for buying real estate ...
