RBI fines Sarvodaya Commercial Co-op Bank for inoperative account rule breach
Source: Reserve Bank of India · Press Release prid 62962 · ~2 min read
RBI imposed a ₹20,000 penalty on Sarvodaya Commercial Co-operative Bank for levying penal charges on minimum balance shortfalls in certain inoperative accounts, violating RBI's revised instructions on inoperative accounts/unclaimed deposits.
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Official RBI source: https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=62962 — summary by BankPulse (bankpulse.ai).
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