The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5 lakh Rajputana Mahila Urban Co-operative Bank, Jaipur.

This is for violation of the provisions of RBI guidelines on Know Your Customers (KYC) norms and Anti Money Laundering (AML) and exposure to unsecured loans.

The Reserve Bank had issued a show cause notice to the bank, in response to which the bank submitted a written reply. After considering the facts of the case, the bank's reply in the matter, the Reserve Bank of India came to the conclusion that the violations were substantiated and warranted imposition of the monetary penalty.