RBI imposes monetary penalty on 14 banks for flouting provisions
India Today
The Reserve Bank of India has imposed monetary penalty on 14 banks for flouting provisions of directions issued by the RBI.
The Reserve Bank of India has imposed penalties on 14 banks for non-compliance with certain provisions of directions issued by the RBI. A scrutiny of the accounts of the companies of a group was carried out by the RBI. It was observed that the banks had failed to comply with provisions of one or more directions issued by RBI and/or contravened provisions of the Banking Regulation Act, 1949.More Related News