Categories: Business

RBI imposes a penalty in 14 banks to conflict with the norm

Mumbai: Reserve Bank of India (RBI) on Wednesday said he had imposed a penalty in SBI, Bank of Baroda, Bank Indusind, Bank Bandhan and 10 other lenders to conflict with various regulatory norms, including loans to NBFC.
The punishment imposed on 14 banks total Rs 14.5 Crore, with good RS 2 Crore Fine at the Bank of Baroda.
In accordance with release, RS 1 Crore’s penalty has been enacted by each at Bank Bandhan, Bank of Maharashtra, Central Bank of India, Credit Suisse Ag, Bank India, Bank Indusind, Bank Karnataka, Karur Vysya Bank, Punjab and Sind Bank, South India Bank , Bank Jammu & Kashmir, and Small Utkarsh Financial Bank.
The punishment worn at the Indian state bank is Rs 50 Lakh.
Providing details, bank reserves of India said supervision in the “company of a group” account was carried out and observed that banks failed to comply with certain conditions.
Notifications issued to the bank, advise them to show the reason why penalties should not be charged for non-compliance with the direction / causes of banking regulations, 1949.
Punishment has been imposed on the non-compliance of certain provisions from the direction issued by the RBI about ‘loans to non-financial companies – Save (NBFCS) ‘,’ Financial Banks for non-banking financial companies (NBFCs), ‘loans and progress – statutory and’ restrictions’, and ‘of the repository of large general exposure – throughout the bank’, among others.
RBI, however, said punishment had been enacted based on deficiency in regulatory compliance and was not intended to be pronounced on the validity of each transaction or agreement entered by customers with their customers.

news2in

Share
Published by
news2in

Recent Posts

44 ordered to attack the procession

Ludhiana: The police have submitted FIR to four identified and at least 40 unknown attackers…

3 years ago

Punjab: Police Reject conspiracy theory in the case of Deep Sidhu

Sonīpat / Ludhiana / Ambala: Actor Punjabi - Activist Activist Deep Sidhu, who died in…

3 years ago

Punjab: Hidden Strength Working Behind PM Narendra Modi, Arvind Kejriwal, said Rahul Gandhi

PATIALA / MANSA / BARNALA: Attacking Prime Minister Narendra Modi and AAP National Convener Kejriawal,…

3 years ago

BJP made AAP to endanger the Congress, said Ajay

Jalandhar: BJP and AAM AAM AADMI parties are one party, Secretary General of the Ajay…

3 years ago

Our job is to make Punjab No. 1 State: Meenakshi Lekhi

Ludhiana: Minister of Union Culture Meenakshi Lekhi while campaigning to support the BJP candidate from…

3 years ago

Feb 20 is an opportunity to change the destiny of Punjab and his children: Bhagwant Mann

Machhiwara (Ludhiana): AAM AAM AADMI Party (AAP) Head of Punjab Candidate and Members of Parliament…

3 years ago