The Reserve Bank today imposed penalties of Rs 1 lakh each on four cooperative banks on various charges including violation of anti-money laundering guidelines.
The four banks are the Jamnagar Mahila Sahakari Bank, Amreli Nagarik Sahkari Bank, Shri Mahila Sewa Sahakari Bank, Ahmedabad, and the Virambam Mercantile Cooperative Bank, the RBI said in different statements.
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