RBI Penalty on Banks : RBI again imposed fine of crores on banks, check the list if your bank is included

RBI News: RBI has imposed penalty on DCB Bank and Tamilnad Mercantile Bank for not following some directions associated to advance rate of interest.

– Advertisement –

RBI Penalty on Banks: RBI has as soon as again turn into strict on banks. The Reserve Bank screens all the banks of the nation… which bank is following the guidelines correctly or not…? Now RBI has imposed a penalty on DCB Bank and Tamilnad Mercantile Bank for not following some directions associated to advance rate of interest.

This has been knowledgeable by issuing a press release from RBI. RBI has imposed a fine of Rs 63.6 lakh on DCB Bank. Apart from this, a fine of Rs 1.31 crore has been imposed on Tamil Nadu Mercantile Bank.

RBI issued assertion

In a separate assertion, the central bank mentioned that Tamil Nadu Mercantile Bank has been fined Rs 1.31 crore for non-compliance of sure directions issued on ‘Interest Rates on Advances’ and ‘Revision in Central Repository of Information on Large Credit (CRILC) Reporting’. Fine has been imposed.

Fine imposed for not following guidelines

In each instances, the Reserve Bank mentioned the penalty was based mostly on deficiencies in regulatory compliance. For this motive RBI has taken this motion. RBI’s goal is to not have an effect on the validity of any transaction or settlement entered into with bank prospects.

Fine was additionally imposed on these banks

Recently the Reserve Bank had imposed penalty on Bank of India and Bandhan Bank. RBI had imposed a fine of Rs 1.4 crore on Bank of India. Apart from this, the Reserve Bank had additionally imposed a fine of Rs 29.55 lakh on non-public sector Bandhan Bank for not complying with some directions.

Reserve Bank of India has imposed penalty on Bank of India for non-compliance of RBI instructions regarding violation of provisions of ‘Interest Rate on Deposits’, ‘Customer Service in Banks’, ‘Interest Rate on Loans’ and Credit Information Companies Rules, 2006. Was imposed for.

Property Transfer Rules : Follow this simple methodology to switch property, there will probably be no dispute

– Advertisement –