RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank
Monday, 25 September 2023 The RBI has imposed penalties on SBI, Indian Bank, and Punjab & Sind Bank, for violating various regulatory norms. SBI has been fined Rs 1.3 crore for non-compliance with certain directions on loans and advances, while Indian Bank has been fined Rs 1.62 crore for contravening directions on loans and advances, KYC, and interest rates on deposits. Punjab & Sind Bank has been penalized Rs 1 crore for non-compliance with provisions of the depositor education and awareness fund scheme.
Digitalization of the economy provides both challenges and opportunities. Central banks should ensure that they have the capacity to continue to meet their policy objectives in the digital age. It is..
The RBI has fined three state-owned banks, including SBI and Indian Bank, for violating regulatory standards. SBI has been fined Rs 1.3 crore for failing to... IndiaTimes
Monday, 25 September 2023
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