RBI imposes monetary penalty on Bank of India
The Reserve Bank of India (RBI) said on Friday it has imposed a monetary penalty of Rs 70 lakh on the Bank of India for violation of Know Your Customer (KYC) re
Source: longbeachstar.com
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The Reserve Bank of India (RBI) said on Friday it has imposed a monetary penalty of Rs 70 lakh on the Bank of India for violation of Know Your Customer (KYC) re
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, RBI added for penalties imposed on both lenders.