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The Reserve Bank of India (RBI) on Monday said it has imposed a monetary penalty of Rs 1.12 crore on Bank of Maharashtra for non-compliance with certain directions related to Know Your Customer (KYC).
Reserve Bank of India has imposed a penalty of Rs 1.12 crore on Bank of Maharashtra for non-compliance with certain directions
RBI added that this action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
The Reserve Bank of India (RBI) on Friday said it has imposed a monetary penalty of Rs 36 lakh on the Central Bank of India for non-compliance with certain regu
RBI said the aforesaid charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty, to the extent of non-compliance with such directions, , reserve bank of india, central bank of india