The Reserve Bank has imposed penalties totalling Rs 60.3 lakh on five co-operative banks for contravention of various regulatory norms.

A penalty of Rs 43.30 lakh has been imposed on Rajkot Nagarik Sahakari Bank for non-compliance with RBI directions.

The central bank has imposed a monetary penalty of Rs 5 lakh each on The Kangra Co-operative Bank (New Delhi), Rajdhani Nagar Sahkari Bank (Lucknow), and Zila Sahakari Bank, Garhwal (Kotdwar, Uttarakhand).