RBI imposes monetary penalty of ₹2.00 crore (Rupees Two Crore only) on RBL Bank Limited
RBI imposes monetary penalty of ₹ 2.00 crore (Rupees Two Crore only) on RBL Bank Limited Reserve Bank of India, vide Press Release dt. September 27, 2021, informed to public at large that it has imposed a monetary penalty of ₹ 2.00 crore (Rupees Two Crore only) on RBL Bank Limited. RBL Bank, formerly known as Ratnakar Bank, is an Indian private sector bank headquartered in Mumbai and founded in 1943 In August 6, 1943, Ratnakar Bank was founded as a regional bank in Maharashtra with two branches in Kolhapur and Sangli founded by Babgonda Bhujgonda Patil from Sangli & Gangappa Siddappa Chougule from Kolhapur. It mainly served small and medium enterprises (SMEs) and business merchants in the Kolhapur-Sangli belt. Kolhapur-Sangli belt is famous for its sugar industries Sangli is known as the Turmeric city and the Sugar Belt of India. Sangli is the largest market place for Turmeric & grapes in Asia. Kolhpaur is...