A day after it imposed monetary penalty of Rs 7 crore on four PSU banks, the Reserve Bank on Monday slapped a fine of Rs 4 crore on Mangaluru-headquartered Karnataka Bank for delays in the implementation of new controls relating to the SWIFT system of international payments. The private sector lender was one of the […]
The Reserve Bank of India has imposed a monetary penalty of ₹20 lakh on Religare Finvest for the failure to comply with the directions/orders issued by RBI on an assignment transaction. “An inspection of the company was conducted under section 45N of the RBI Act, 1934 during September-October 2015. During the inspection, it was observed […]
The State Bank of India said it has fixed certain “control gaps” in its Hong Kong branch that led to a fine of Rs 6.17 cr by the local regulator. ‘”The control gaps related to the past and have since been remediated with appropriate enhancements in policies and procedures,” SBI said. “HKMA (Hong Kong Monetary […]
