RBI imposes Rs 14.5 crore penalty on State Bank of India, 13 other banks
The Reserve Bank of India (RBI) on Tuesday imposed a monetary penalty on fourteen banks, including the State Bank of India (SBI) and Bank of Baroda (BOB) 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 (NBFCs) , Bank Finance to Non-Banking Financial Companies (NBFCs) , Loans and Advances - Statutory and Other Restrictions , Creation of a Central Repository of Large Common Exposures - Across Banks read with the contents of Circular on Reporting to Central Repository of Information on Large Credits (CRILC) , Operating Guidelines for Small Finance Banks and for contraventions of provisions of Section 19(2) and Section 20 (1) of Banking Regulation Act, 1949.
RBI imposes ₹1 crore penalty on Karnataka Bank - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
RBI imposes penalties on SBI, 13 banks for violation of rules ANI | Updated: Jul 08, 2021 08:26 IST
New Delhi [India], July 8 (ANI): The Reserve Bank of India (RBI) on Tuesday imposed a monetary penalty on fourteen banks, including the State Bank of India (SBI) and Bank of Baroda (BOB) 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 (NBFCs) , Bank Finance to Non-Banking Financial Companies (NBFCs) , Loans and Advances - Statutory and Other Restrictions , Creation of a Central Repository of Large Common Exposures - Across Banks read with the contents of Circular on Reporting to Central Repository of Information on Large Credits (CRILC) , Operating Guidelines for Small Finance Banks and for contraventions of provisions of Section 19(2) and Section 20 (1) of Banking Regulation Act, 1949.
RBI imposes penalty on 14 banks for contravention of various norms thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
For non-compliance related to lending to NBFCsKarur Vysya Bank announced that the Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 1 crore on the Bank for non-compliance with certain provisions of directions issued by RBI on Lending to Non-Banking Financial Companies (NBFCs) , and Bank Finance to Non-Banking Financial Companies (NBFCs) . The penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
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