Reserve Bank today said Rs 10 lakh penalty has been imposed on Prathamik Shikshak Sahakari Bank, Kolhapur for violation in regards to dividend for 2013-14.
Earlier, RBI had issued a show cause notice to the lender.
After considering the facts of the case and bank's reply in the matter, Reserve Bank said it has "come to the conclusion" that the violation(s) was/ were substantial and warranted imposition of the penalty.
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A "monetary penalty of Rs 10 lakh" has been imposed on the Prathamik Shikshak Sahakari Bank, Kolhapur (Salary Earners' Bank) for violation of operational instructions relating to declaration and payment of dividend for 2013-14 without prior permission of the central bank.
Meanwhile, an article on International Banking Statistics of India-2015 in RBI's monthly bulletin said international liabilities (based on Locational Banking Statistics) of banks in India recorded a gradual deceleration in annual growth rate.
Further, annual growth rate of international claims of the Indian banking system recorded an increase since June 2015.
Share of Non-Resident (External) Rupee Account [NRE] and Foreign Currency Non Resident (Bank) Account [FCNR(B)] in total international liabilities remained more or less the same during 2015 as in 2014.
"The share of foreign currency loans to residents in total international claims declined during 2015," the article said.
