RBI imposes penalty on 14 banks for non-compliance of rules

The Reserve Bank of India has imposed monetary penalties on 14 banks including Bank of Baroda and State Bank of India (SBI) for non-compliance of rules. While Bank of Baroda has been fined two crore rupees, Bandhan Bank, Bank of Maharashtra, Central Bank of India, Credit Suisse, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Punjab and Sind Bank, South Indian Bank, Jammu & Kashmir Bank and Utkarsh Small Finance Bank have been fine one crore rupees of penalty each. The SBI ...