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RBI COMPLIANCE FINES
RBI fines Canara Bank for violations related to KYC, inactive accountsThe Reserve Bank of India has taken action against Canara Bank, slapping a substantial Rs 41.8 lakh fine for failing to comply with Know Yo...- RBI imposes penalty on Bandhan Bank, Muthoot Housing Finance CompanyWhile imposing a penalty on Bandhan Bank, the RBI said the bank failed to carry out periodic review of risk categorisation of certain categ...
- RBI imposes penalties on five major banks for compliance failuresICICI Bank was fined for non compliance on cyber security framework in banks, know your customer (KYC) regulations, and credit card and deb...
- RBI fines HDFC, Axis Bank for non-compliance with regulationsThe Reserve Bank of India has fined Axis Bank ₹1.91 crore and HDFC Bank ₹1 crore for regulatory non-compliance. Axis Bank's violations incl...
- RBI fines Visa, Ola Financial and Manappuram for contravention of PPI, KYC rulesIn February, the RBI had ordered the credit card company to stop using an unauthorised route to make some commercial payments, per a Reuter...
- RBI fines ICICI, Kotak Mahindra Bank for not complying with normsICICI Bank has been penalised for contraventions pertaining to loans and advances-statutory and non-compliance with RBI directions on fraud...
- Amazon Pay fined Rs 3 crore for not complying with KYC normsRBI said in a statement on Friday that “it was observed that the entity was non-compliant with the directions issued by RBI on Know-Your-Cu...
- RBI imposes Rs 1.76 crore penalty on Vakrangee for non-compliance with regulationsAmong others, 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 M...
- RBI imposes penalties on Federal Bank, Bank of IndiaAbout Federal Bank, RBI said the bank failed to ensure that no incentive (cash or non-cash) was paid to its staff engaged in insurance brok...
- RBI imposes Rs 17 lakh fine on Manappuram Finance for non-compliance of KYC, PPI rulesThe Reserve Bank of India (RBI) fined Manappuram Financing Rs 17 lakh for violating KYC and prepaid payment instrument standards. The compa...
- RBI imposes Rs 35 lakh fine on Tamilnad Mercantile BankThe bank has been penalised for non-compliance with certain provisions of directions issued by RBI on frauds classification and reporting.
- RBI fines HDFC Bank Rs 1 crore for violation of KYC normsThe fine pertains to submission of forged bill of entries (BoEs) by certain importers to HDFC Bank for remittance of foreign currency
- RBI fines 10 banks for SWIFT non-complianceYes Bank also informed about a fine of Rs 1 crore for non-compliance of directions on Swift.
- RBI fines 19 lenders for non-compliance on SWIFT useRBI has imposed the fines over the past four days, according to stock exchange filings by the banks, though specifics of the non-compliance...
- RBI slaps Rs 1 cr fine on Yes Bank for non-compliance in Swift operationsRBI has levied an aggregate penalty of Rs 10 million on the bank for non-compliance of regulatory directions.
- RBI imposes Rs 8 crore fine on 3 banks for non-compliance in Swift operationsKarur Vysya said that the RBI has imposed a monetary penalty of Rs 1 crore on the bank for non-compliance with the directions issued on Swi...
- RBI penalises seven banks for violating various normsWhile Andhra Bank was fined Rs 10 crore, the other banks were fined Rs 15 crore each.
- RBI imposes fine of Rs 3 crore each on Deutsche Bank, J&K BankThe RBI also slapped a fine of Rs 3 crore on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.
- RBI fines Indian Overseas Bank after fraud came to lightThe Reserve Bank of India has imposed a fine of Rs 20 million on Indian Overseas Bank for non-compliance with the directions issued by RBI ...
- Banks hire ex-RBI men to avoid slip-upsIncreasing scrutiny and higher costs for non compliance mean banks would rather have a person who knows the workings of the central bank.
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