RBI imposes ₹11 crore fine on 4 banks for non-compliance in Swift operations
6 years ago

RBI imposes ₹11 crore fine on 4 banks for non-compliance in Swift operations

Live Mint  

The RBI has imposed a total monetary fine of ₹11 crore on four banks - Karnataka Bank, United Bank of India, IOB and Karur Vysya Bank - for non-compliance of directions on Swift messaging software. The Reserve Bank of India has levied an aggregate penalty of ₹40 million on the bank for delayed implementation of four of the Swift related operational controls, Karnataka Bank said in a regulatory filing. "The exchanges are hereby informed that Reserve Bank of India., has imposed an aggregate penalty of ₹30 million on the Bank to be deposited within 14 days, for non-compliance with, and contraventions of, directions contained in the RBI circular on time-bound implementation and strengthening of SWIFT-related operational controls," United Bank said in a separate filing. Karur Vysya said that the RBI has imposed a monetary penalty of ₹1 crore on the bank for non-compliance with the directions issued on Swift operations.

India Swift Rbi Karnataka Bank United Bank Karur Vysya Vysya Bank Crore Penalty  swift  11  rbi  crore  penalty  directions  india  vysya  bank  noncompliance  fine  imposed  operations  banks  imposes

History of this topic

RBI imposes penalties on HDFC Bank, Punjab & Sind Bank
3 days ago

RBI imposes penalties on HDFC Bank, Punjab & Sind Bank

The Hindu  

The Reserve Bank on Wednesday said it has imposed penalties on HDFC Bank and Punjab & Sind Bank for deficiencies in regulatory compliance. A penalty of ₹75 lakh on HDFC Bank has been imposed for non-compliance with certain directions issued by RBI on 'Know Your Customer', the central bank said in a statement. In another statement, the RBI said a …

RBI imposes over Rs 60 lakh penalty on these two banks: Check names and reason
1 month, 2 weeks ago

RBI imposes over Rs 60 lakh penalty on these two banks: Check names and reason

India TV News  

The Reserve Bank of India has imposed penalties totalling Rs 68.1 lakh on Nainital Bank and Ujjivan Small Finance Bank for violations of regulatory norms. According to an official statement released on Friday, Nainital Bank Ltd faced a penalty of Rs 61.40 lakh for non-compliance with RBI’s guidelines on ‘Interest Rate on Advances’ and ‘Customer Service in Banks’. Further, RBI …

RBI imposes Rs 4 lakh penalty on Odisha State Co-operative Bank for regulatory non-compliance
Trending News
1 month, 4 weeks ago

RBI imposes Rs 4 lakh penalty on Odisha State Co-operative Bank for regulatory non-compliance

New Indian Express  

BHUBANESWAR: The Reserve Bank of India has imposed a Rs 4 lakh penalty on Odisha State Co-operative Bank Ltd for non-compliance with certain provisions of Banking Regulation Act, 1949. Sources said, the fine has been imposed on OSCB Ltd for allegedly failing to dispose of certain non-banking assets and transfer eligible unclaimed amounts to the depositor education and awareness fund …

RBI imposes Rs 4 lakh penalty on Odisha State Co-operative Bank
Trending News
1 month, 4 weeks ago

RBI imposes Rs 4 lakh penalty on Odisha State Co-operative Bank

New Indian Express  

BHUBANESWAR: The Reserve Bank of India has imposed a penalty on Odisha State Co-operative Bank Ltd for non-compliance with certain provisions of the Banking Regulation Act, 1949. Sources said a penalty of Rs 4 lakh has been imposed on OSCB Ltd for allegedly failing to dispose of certain non-banking assets and transfer eligible unclaimed amounts to the depositor education and …

RBI imposes penalty on IndusInd Bank for regulatory compliance deficiencies
3 months, 1 week ago

RBI imposes penalty on IndusInd Bank for regulatory compliance deficiencies

Hindustan Times  

A penalty of ₹27.30 lakh has been imposed on IndusInd Bank for non-compliance with certain provisions of norms related to 'interest rate on deposits', the Reserve Bank said on Friday. For failing to comply with specific rules pertaining to "interest rate on deposits," IndusInd Bank has been fined ₹ 27.30 lakh by the Reserve Bank. After considering the reply of …

RBI fines IndusInd Bank ₹27 lakh over non-compliance
3 months, 1 week ago

RBI fines IndusInd Bank ₹27 lakh over non-compliance

Live Mint  

The Reserve Bank of India imposes a penalty of ₹27 lakh on IndusInd Bank for not complying with norms. “The Reserve Bank of India has, by an order dated December 18, 2024, imposed a monetary penalty of ₹27.30 lakh on IndusInd Bank Ltd. for non-compliance with certain provisions of ‘Reserve Bank of India Directions, 2016’,”the central bank said in statement …

RBI Imposes Penalties on Ola Financial Services, Manappuram Finance, Visa Worldwide for KYC Norm Violations And Unauthorized Payment Methods
7 months, 4 weeks ago

RBI Imposes Penalties on Ola Financial Services, Manappuram Finance, Visa Worldwide for KYC Norm Violations And Unauthorized Payment Methods

Live Law  

The Reserve Bank of India has imposed penalties on Ola Financial Services Pvt. Further, Ola Financial Services reported a shortfall in its escrow account balance and filed an application for compounding this violation. Similar to Ola Financial Services, Manappuram's failure to adhere to these crucial regulatory directions prompted the RBI to take action. The "Card Not Present transactions – Relaxation …

RBI penalizes Ola Financial, Visa, Manappuram Finance for non-compliance with rules
8 months ago

RBI penalizes Ola Financial, Visa, Manappuram Finance for non-compliance with rules

Live Mint  

The Reserve Bank of India imposed fines on payment system operators Visa Worldwide, Ola Financial Services and Manappuram Finance for deficiencies in regulatory compliance. The central bank imposed a penalty of ₹2.4 crore on Visa Worldwide Pte Limited, ₹41.5 lakh on Manappuram Finance Limited and ₹87.55 lakh fine on Ola Financial Services in two cases. Monetary penalty on payment system …

RBI Imposes Penalty Of ₹1.9 Lakh On Muthoot Finance For KYC Non-Compliance
8 months, 1 week ago

RBI Imposes Penalty Of ₹1.9 Lakh On Muthoot Finance For KYC Non-Compliance

Live Law  

The Reserve Bank of India imposed a monetary penalty on Muthoot Finance Limited for failing to adhere to the 'Know Your Customer Directions, 2016'. Clause of sub-section of section 58G of the Reserve Bank of India Act, 1934 empowers the RBI to impose monetary penalties on banks and financial institutions for contraventions or non-compliance with any direction, rule, or regulation …

RBI imposes 1.45 crore fine on Central Bank of India, 96.4 lakh fine on Bangladesh's Sonali Bank
9 months, 2 weeks ago

RBI imposes 1.45 crore fine on Central Bank of India, 96.4 lakh fine on Bangladesh's Sonali Bank

Hindustan Times  

The Reserve Bank of India imposed a fine of ₹1.45 crore on the Central Bank of India and ₹96.4 lakh on Sonali Bank PLC for non-compliance issues including loans and advances and Know Your Customer norms, PTI reported. Representational The Central Bank of India was fined ₹1.45 crore for sanctioning a working capital demand loan to a corporation against amounts …

RBI Imposes Rs 1.45-Crore Penalty on Central Bank of India; Details Here
9 months, 2 weeks ago

RBI Imposes Rs 1.45-Crore Penalty on Central Bank of India; Details Here

News 18  

The Reserve Bank of India on Friday, June 14, imposed a penalty of Rs 1.45 crore on Central Bank of India for non-compliance with certain RBI norms. “The Reserve Bank of India has, by an order dated June 11, 2024, imposed a monetary penalty of Rs 1,45,50,000 on Central Bank of India for non-compliance with certain directions issued by RBI …

RBI Imposes Rs 1.91-Crore Penalties on Yes Bank, ICICI Bank For Non-Compliance With Norms
10 months ago

RBI Imposes Rs 1.91-Crore Penalties on Yes Bank, ICICI Bank For Non-Compliance With Norms

News 18  

The Reserve Bank of India has imposed a penalty of Rs 1 crore on ICICI Bank, and Rs 91 lakh on Yes Bank for non-compliance with norms. “The Reserve Bank of India has, by an order dated May 21, 2024, imposed a monetary penalty of ₹1.00 crore on ICICI Bank Ltd. for non-compliance with certain directions issued by RBI on …

RBI imposes monetary penalty on Yes Bank and ICICI Bank. Here's why
10 months ago

RBI imposes monetary penalty on Yes Bank and ICICI Bank. Here's why

Hindustan Times  

The Reserve Bank of India has imposed monetary penalty on Yes Bank and ICICI Bank for non-compliances with certain directions issued by it. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it …

CBI court hands jail terms to five bank employees in fraud cases
1 year ago

CBI court hands jail terms to five bank employees in fraud cases

Hindustan Times  

LUCKNOW: The Central Bureau of Investigation, Lucknow court sentenced seven people to rigorous imprisonment of three to seven years and imposed fines of ₹8.3 lakh in two separate cases of bank fraud worth ₹24.28 crore, said a senior CBI official. For representation In a press note shared with the media, CBI officials informed that the special judge, CBI cases, Lucknow, …

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary
1 year, 1 month ago

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary

Hindustan Times  

Paytm Payments Bank, a wholly-owned subsidiary of fintech major Paytm, has been barred by the Reserve Bank of India from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, and more, after February 29. Representative Image However, this is not for the first time that Paytm Payments Bank, launched in November 2017, finds itself in trouble. …

RBI imposes ₹2.49 crore penalty on Dhanlaxmi Bank, Punjab and Sind Bank and ESAF Small Finance Bank
1 year, 2 months ago

RBI imposes ₹2.49 crore penalty on Dhanlaxmi Bank, Punjab and Sind Bank and ESAF Small Finance Bank

The Hindu  

The Reserve Bank on Friday said it has imposed penalties totalling ₹2.49 crore on three banks, including Dhanlaxmi Bank and Punjab and Sind Bank, for contravention of regulatory norms. A penalty of ₹1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances — Statutory and Other Restrictions', KYC and certain norms related to …

RBI imposes fine on 3 banks for non-compliances, check details
1 year, 2 months ago

RBI imposes fine on 3 banks for non-compliances, check details

Live Mint  

The Reserve Bank of India on 12 January imposed monetary penalties, of varying degrees, against ESAF Small Finance Bank, Dhanlaxmi Bank, and Punjab and Sind Bank over various non-compliances. A penalty of ₹1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances – Statutory and Other Restrictions', KYC, and certain norms related to …

RBI imposes monetary penalty on five co-operative banks. Details here
1 year, 2 months ago

RBI imposes monetary penalty on five co-operative banks. Details here

Live Mint  

The Reserve Bank of India has imposed monetary penalties on five co-operative banks for deficiencies in regulatory compliance. The co-operative banks that faced the central bank's action are Navsarjan Industrial Co-operative Bank Ltd, Mehsana Jilla Panchayat Karmachari Co-operative Bank Ltd, Halol Urban Co-operative Bank Ltd, Stambhadri Co-operative Urban Bank Ltd and Subramanianagar Co-operative Urban Bank Ltd. The Reserve Bank imposed …

RBI penalises ₹10.34 crore on Citibank, BoB, IOB for non-compliance
1 year, 4 months ago

RBI penalises ₹10.34 crore on Citibank, BoB, IOB for non-compliance

Hindustan Times  

The Reserve Bank on Friday imposed penalties totalling ₹10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for contravention of various regulatory norms. The highest penalty of ₹5 crore has been imposed on Citibank NA for non-compliance of norms related to depositor education and awareness fund scheme, and code of conduct on outsourcing of financial services, the RBI …

RBI Imposes Penalty On Axis Bank; Stock Declines 3 Per Cent
1 year, 4 months ago

RBI Imposes Penalty On Axis Bank; Stock Declines 3 Per Cent

ABP News  

The Reserve Bank of India on Thursday imposed a monetary penalty of Rs 90.92 lakh on Axis Bank for violation of certain directions. The RBI by an order dated November 02, 2023, imposed a monetary penalty of Rs 90.92 lakh on Axis Bank Ltd for non-compliance with certain directions. In a separate statement, the RBI said it has imposed a …

RBI Imposes Rs 90.92 Lakh Penalty on Axis Bank, Rs 42.78 Lakh Fine on Manappuram Finance
1 year, 4 months ago

RBI Imposes Rs 90.92 Lakh Penalty on Axis Bank, Rs 42.78 Lakh Fine on Manappuram Finance

News 18  

The Reserve Bank of India on Thursday imposed a penalty of Rs 90.92 lakh on Axis Bank for non-compliance with its certain directions. The RBI has also slapped a fine of Rs 42.78 lakh on Manappuram Finance Ltd. “The Reserve Bank of India has, by an order dated November 02, 2023, imposed a monetary penalty of Rs 90.92 lakh on …

RBI imposes monetary penalty on five co-operative banks. Details here
1 year, 5 months ago

RBI imposes monetary penalty on five co-operative banks. Details here

Live Mint  

The Reserve Bank has imposed monetary penalties on five co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: SBPP Co-operative Bank Ltd, The Sahayadri Sahakari Bank Ltd, Rahimatpur Sahakari Bank Ltd, The Gadhinglaj Urban Co-operative Bank Ltd and The Kalyan Janata Sahakari Bank Ltd. The Reserve Bank imposed a monetary penalty of ₹13 lakh on SBPP Co-operative Bank …

New RBI rules to regulate penal charges on loans from next year
1 year, 7 months ago

New RBI rules to regulate penal charges on loans from next year

Live Mint  

The Reserve Bank of India has issued instructions for penal charges in loan accounts to ensure transparency in the disclosure of penal charges and interest rates in loan accounts. RBI has issued the following instructions 1)Penalty, if charged, for non-compliance of material terms and conditions of the loan contract by the borrower shall be treated as ‘penal charges’ and shall …

RBI Imposes Monetary Penalty On 4 Cooperative Banks For Rule Violations
2 years, 2 months ago

RBI Imposes Monetary Penalty On 4 Cooperative Banks For Rule Violations

ABP News  

The Reserve Bank of India on Monday imposed a monetary penalty on four cooperative banks for violating rules. These banks are Baghat Urban Co-operative Bank, the Sahebrao Deshmukh Cooperative Bank, Sharad Sahakari Bank and Col. R.D. The RBI imposed Rs 8 lakh penalty on Baghat Urban Co-operative Bank, Solan, Himachal Pradesh, Rs 6 lakh on Sharad Sahakari Bank, Pune, and …

RBI imposes fines on Vakrangee, LIC Housing for violating norms
2 years, 4 months ago

RBI imposes fines on Vakrangee, LIC Housing for violating norms

India TV News  

Highlights RBI imposed monetary penalty of Rs 1,76,00,000 on Vakrangee Ltd for non-compliance The regulator has imposed a Rs 30 lakh penalty on The Jammu and Kashmir State Co-operative Bank Ltd A fine of Rs 6 lakh on Mumbai-based The Pratap Co-operative Ltd The Reserve Bank on Monday said it has imposed penalties on various financial entities, including Rs 1.76 …

RBI imposes Rs 1.67 crore penalty on Ola Financial Services
2 years, 8 months ago

RBI imposes Rs 1.67 crore penalty on Ola Financial Services

India TV News  

The Reserve Bank on Tuesday imposed a penalty of over Rs 1.67 crore on Ola Financial Services for non-compliance with certain provisions related to pre-paid payment instruments and Know Your Customer norms. Ola Financial Services Private Limited, a subsidiary of ride-hailing app Ola, offers financial services such as lending for two-wheelers, four-wheelers, personal loans and insurance products. "After considering the …

RBI imposes Rs 1 cr penalty each on Kotak Mahindra Bank, IndusInd Bank
2 years, 8 months ago

RBI imposes Rs 1 cr penalty each on Kotak Mahindra Bank, IndusInd Bank

India TV News  

Highlights The RBI has also imposed penalties on four co-operative banks Kotak Mahindra Bank has been penalised for contravention of certain norms IndusInd Bank has been penalised for non-compliance with certain KYC norms RBI on Monday said it has imposed penalties of about Rs 1 crore each on Kotak Mahindra Bank and IndusInd Bank for deficiencies in regulatory compliance. A …

RBI imposes monetary penalty on Indian Overseas Bank for non-compliance
2 years, 9 months ago

RBI imposes monetary penalty on Indian Overseas Bank for non-compliance

Live Mint  

The Reserve Bank of India on Friday imposed a monetary penalty of ₹57.50 lakh on the government-owned Indian Overseas Bank for non-compliance with certain directions. Before the penalty, RBI had conducted a statutory inspection for supervisory evaluation of the bank regarding its financial position as of March 31, 2020, and the examination of the Risk Assessment Report, Inspection Report, and …

RBI slaps penalties on Axis, IDBI Bank
2 years, 11 months ago

RBI slaps penalties on Axis, IDBI Bank

India TV News  

Highlights Reserve Bank of India said it has imposed penalty of Rs 93 lakh on Axis Bank for various violations IDBI Bank has been penalised for non-compliance of directions - RBI slapped a fine of Rs 90 lakh. Private sector lender violated certain provisions on loans and advances, KYC guidelines: RBI Reserve Bank of India on Friday said it has …

RBI imposes Rs 1 crore penalty on One Mobikwik Systems, Spice Money
3 years, 3 months ago

RBI imposes Rs 1 crore penalty on One Mobikwik Systems, Spice Money

India TV News  

Highlights RBI imposed a penalty of Rs 1 crore each on payment system operators One Mobikwik, Spice Money. RBI said that 2 entities hadn't complied with directions issued on networth requirement for BBPOUs The RBI, however, added that the penalties are based on deficiencies in regulatory compliance The Reserve Bank of India on Thursday said it has imposed a penalty …

RBI imposes penalty on PNB, ICICI Bank | Here's why
3 years, 3 months ago

RBI imposes penalty on PNB, ICICI Bank | Here's why

India TV News  

Punjab National Bank and ICICI Bank were fined with a penalty of Rs. In a statement, the RBI said the Statutory Inspection for Supervisory Evaluation of Punjab National Bank was conducted by it with reference to its financial position as of March 31, 2019. In the case of the ICICI Bank, the RBI said the statutory inspection for supervisory evaluation …

Reserve Bank of India imposes Rs 1 crore penalty on Union Bank of India
3 years, 4 months ago

Reserve Bank of India imposes Rs 1 crore penalty on Union Bank of India

Firstpost  

Last week, RBI imposed a monetary penalty of Rs 1 crore on the State Bank of India for contravention of a provision in the Banking Regulation Act, 1949 The Reserve Bank of India on Monday imposed a monetary penalty of Rs 1 crore on state-owned Union Bank of India for deficiencies in regulatory compliance. The banking regulator, in a statement, …

RBI imposes Rs 1 crore penalty on SBI over non-compliance
3 years, 5 months ago

RBI imposes Rs 1 crore penalty on SBI over non-compliance

India TV News  

The Reserve Bank of India on Monday said it has imposed a penalty of Rs one crore on the State Bank of India for non-compliance with the directions contained in ‘Reserve Bank of India directions 2016. "This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement …

RBI imposes Rs 30 lakh penalty on Pune-based Janata Sahakari Bank
3 years, 5 months ago

RBI imposes Rs 30 lakh penalty on Pune-based Janata Sahakari Bank

India TV News  

The Reserve Bank of India has imposed a penalty of Rs 30 lakh on Janata Sahakari Bank Ltd, Pune for non-compliance with certain directions. The penalty has been imposed for non-compliance with specific directions issued by RBI under the Supervisory Action Framework and RBI directions on 'Frauds in UCBs: Changes in Monitoring and Reporting mechanism'. The statutory inspection of the …

RBI fines Axis Bank for non-compliance with provisions of KYC norms
3 years, 6 months ago

RBI fines Axis Bank for non-compliance with provisions of KYC norms

Live Mint  

The Reserve Bank of India has imposed a monetary penalty of ₹25 lakh on Axis Bank Limited for violation of rules, the central bank informed on Wednesday. An order dated 1 September said the monetary penalty was imposed for “contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – ) Direction, 2016”. …

RBI imposes Rs 5-cr penalty on Axis Bank for rule violations
3 years, 8 months ago

RBI imposes Rs 5-cr penalty on Axis Bank for rule violations

India TV News  

The Reserve Bank of India on Tuesday said it has imposed a penalty of Rs 5 crore on Axis Bank for contravention of certain provisions of directions issued by the RBI, including on cybersecurity framework. The contravention of/ non-compliance with the directions has been revealed by — the examination of the Risk Assessment Reports pertaining to ISE 2017, ISE 2018 …

RBI imposes penalty on 14 banks for contravention of various norms
3 years, 8 months ago

RBI imposes penalty on 14 banks for contravention of various norms

The Hindu  

In a release Wednesday, the Reserve Bank of India said it has imposed a penalty of ₹145 million on 14 banks for breach of several norms. The provisions breached include guidelines on ‘Lending to Non-Banking Financial Companies’, ‘Bank Finance to Non-Banking Financial Companies’, ‘Loans and Advances Statutory and Other Restrictions’, ‘Creation of a Central Repository of Large Common Exposures Across …

RBI imposes Rs 14.5 crore penalty on State Bank of India, 13 other banks
3 years, 8 months ago

RBI imposes Rs 14.5 crore penalty on State Bank of India, 13 other banks

India TV News  

The Reserve Bank of India on Tuesday imposed a monetary penalty on fourteen banks, including the State Bank of India and Bank of Baroda for violation of various rules. As per an official release, the violence includes non-compliance with certain provisions of directions issued by RBI on 'Lending to Non-Banking Financial Companies ', 'Bank Finance to Non-Banking Financial Companies ', …

RBI imposes a total penalty of Rs 8 lakh on 3 banks
3 years, 9 months ago

RBI imposes a total penalty of Rs 8 lakh on 3 banks

India TV News  

The Reserve Bank of India on Wednesday imposed a total penalty of Rs 8 lakh on three Maharashtra-based co-operative banks for deficiencies in regulatory compliance. A penalty of Rs 4 lakh has been imposed on Excellent Co-operative Bank, Mumbai, and Rs 2 lakh each on Janseva Sahakari Bank Limited, Pune and The Ajara Urban Co-operative Bank, Ajara. The penalty on …

RBI imposes Rs 23 lakh fine on THESE co-operative banks
3 years, 9 months ago

RBI imposes Rs 23 lakh fine on THESE co-operative banks

India TV News  

RBI imposes Rs 23 lakh fine on THESE co-operative banks The RBI said the penalties have been imposed due to deficiencies in regulatory compliance, and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. The Reserve Bank of India on Monday imposed penalties of Rs 23 lakh on …

RBI imposes Rs 11 lakh penalty on THESE banks
3 years, 9 months ago

RBI imposes Rs 11 lakh penalty on THESE banks

India TV News  

RBI imposes Rs 11 lakh penalty on THESE banks The RBI said the penalties have been imposed based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered by the two lenders with their customers. The Reserve Bank of India on Tuesday imposed a penalty of Rs 11 lakh on …

RBI imposes Rs 2 lakh penalty on THIS bank
3 years, 9 months ago

RBI imposes Rs 2 lakh penalty on THIS bank

India TV News  

The Reserve Bank of India on Tuesday imposed a penalty of Rs 2 lakh on Dhrangadhra People's Co-operative Bank, Surendranagar, Gujarat, for non-compliance with certain norms. The RBI said the penalty has been imposed for non-compliance with RBI directions on 'Placement of Deposits with Other Banks by Primary Co-operative Banks ' and 'Depositor Education and Awareness Fund Scheme 2014'. Giving …

RBI imposes Rs 6 crore penalty on Bank of India, Punjab National Bank
3 years, 9 months ago

RBI imposes Rs 6 crore penalty on Bank of India, Punjab National Bank

India TV News  

The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms, including one related to "Frauds – Classification and Reporting". A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank. Examination of the risk assessment report pertaining …

RBI imposes Rs 25.5 lakh penalty on Jaipur-based Jumbo Finvest (India)
3 years, 10 months ago

RBI imposes Rs 25.5 lakh penalty on Jaipur-based Jumbo Finvest (India)

India TV News  

The Reserve Bank of India on Tuesday said it has imposed a penalty o fRs 25.5 lakh on Jumbo Finvest Limited, Jaipur. In a release, the RBI said it imposed a monetary penalty of Rs 25.50 lakh on Jumbo Finvest for non-compliance with certain provisions of the directions issued by RBI contained in 'Non-Banking Financial Company - Systemically Important Non-Deposit …

RBI imposes Rs 3 crore penalty on ICICI Bank. Details
3 years, 10 months ago

RBI imposes Rs 3 crore penalty on ICICI Bank. Details

India TV News  

RBI imposes Rs 3 crore penalty on ICICI Bank. Details A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said on Monday. A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said …

RBI imposes Rs 40 lakh penalty on THIS bank
3 years, 11 months ago

RBI imposes Rs 40 lakh penalty on THIS bank

India TV News  

The Reserve Bank of India on Tuesday said it has imposed a penalty of Rs 40 lakh on Himachal Pradesh State Cooperative Bank, Shimla, for non-compliance with certain regulatory directions issued by NABARD. The penalty has been imposed for non-compliance with regulatory directions issued by NABARD contained in 'Review of Frauds - Guidelines on Monitoring and Reporting System', the Reserve …

RBI Imposes Rs 2 Crore Penalty on Deutsche Bank for Non-compliance of Directions
4 years, 2 months ago

RBI Imposes Rs 2 Crore Penalty on Deutsche Bank for Non-compliance of Directions

News 18  

The Reserve Bank on Tuesday imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain provisions of directions concerning interest rate on deposits. The central bank said the statutory inspection of Deutsche Bank's financial position as on March 31, 2019 and the Risk Assessment Report revealed non-compliance with the 'Reserve Bank of India Directions, 2016'. …

RBI imposes Rs 50 lakh penalty on an urban co-operative bank in Kerala
4 years, 3 months ago

RBI imposes Rs 50 lakh penalty on an urban co-operative bank in Kerala

India TV News  

The Reserve Bank of India on Tuesday said it has imposed a penalty of Rs 50 lakh on The Urban Co-operative Bank Ltd No. A notice was issued to the bank asking why penalty should not be imposed for non-compliance with the directions issued by RBI. "After considering the bank's written reply, RBI came to the conclusion that the charge …

RBI imposes ₹5 lakh penalty on Nissan Renault Financial Services India
4 years, 4 months ago

RBI imposes ₹5 lakh penalty on Nissan Renault Financial Services India

Live Mint  

Mumbai: The Reserve Bank of India has imposed a penalty of ₹5 lakh on Chennai-based Nissan Renault Financial Services India Private Limited for non-compliance with the central bank's directions. In a statement on Wednesday, RBI said the penalty has been imposed for non-compliance with its directions contained in Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking …

RBI Imposes Rs 50 Lakh Penalty on Central Bank of India
4 years, 4 months ago

RBI Imposes Rs 50 Lakh Penalty on Central Bank of India

News 18  

Mumbai: The Reserve Bank on Tuesday said it has imposed a penalty of Rs 50 lakh on state-run Central Bank of India for non-compliance with its directions on disbursal of some housing loans. “Reserve Bank of India has, by an order dated November 10, 2020, imposed a monetary penalty of Rs 50 lakh” on the bank for non-compliance with certain …

Discover Related