21 November 2022


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RBI Imposes Rs 1.75-Crore Penalty on Indian Bank for Non-Compliance - 21.11.2019

Reserve Bank of India has imposed a monetary penalty of a total of Rs 1.75 crore on Indian Bank for non-compliance with its various directions. The non-compliance included the opening of savings bank accounts of a Co-Operative Society and non-adherence with directions on Know Your Customer /Anti Money Laundering norms, window-dressing of balance sheet as on March 31, 2018 by loan disbursement amounting to Rs 508.28 crore and delayed reporting of frauds.

Tags : RBI Indian Bank

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