scorecardresearchJalgaon People’s Co-op Bank: RBI imposes ₹50 lakh penalty for this reason; Is your money safe?

Jalgaon People’s Co-op Bank: RBI imposes 50 lakh penalty for this reason; Is your money safe?

Updated: 27 Sep 2022, 08:48 AM IST
TL;DR.
Jalgaon People’s Co-op Bank: The co-operative bank had not classified certain accounts as non-performing assets in accordance with norms, and had levied penal charges for non-maintenance of minimum balances in saving banks accounts without notifying the customers and without providing one month time for restoration of minimum balances in the accounts.
According to the RBI’s Financial Stability Report of December 2021, lending through P2P platforms made up for a small portion of overall NBFC lending at  <span class='webrupee'>₹</span>2,093 crore

According to the RBI’s Financial Stability Report of December 2021, lending through P2P platforms made up for a small portion of overall NBFC lending at 2,093 crore