Corporate News 26-Sep-23
RBI imposes penalty of Rs 1.62 cr on Indian Bank
Indian Bank announced that the Reserve Bank of India (RBI) has imposed a monetary penalty of Rs.1.62 crore on the Bank for non-compliance with certain directions issued by RBI on ‘Loans and Advances - Statutory and Other Restrictions', ‘RBI [ Know Your Customer (KYC)] Directions, 2016' and ‘RBI (Interest Rate on Deposits) Directions, 2016'.
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