RBI imposes Rs 58 lakh penalty on Abhyudaya Co-operative Bank
The penalty has been imposed for non-compliance of the directions issued by RBI on 'Placement of Deposits with other banks', 'Monitoring and Reporting Mechanism of Frauds', 'Income Recognition, Asset Classification, Provisioning and Other Related Matters (IRAC norms)' and 'Management of Advances'.
Shriram City to focus on gold, personal, small business loans in FY23; aims 18% growth in AUM Noting that the demand in the economy has not yet fully recovered, while rural and semi-urban areas have been doing better now, YS Chakravarti, MD & CEO, said majority of the company's business comes from semi-urban and rural markets and anything good for the rural economy will help the company's business.
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