1. RBI slaps Rs 4.5-crore penalty on 3 banks for violating norms

RBI slaps Rs 4.5-crore penalty on 3 banks for violating norms

Reserve Bank of India slapped penalties of Rs 1.5 crore each on Bank of Maharashtra, Dena Bank and Oriental Bank of Commerce for violating norms.

By: | Mumbai | Published: April 30, 2015 3:57 AM

The Reserve Bank of India (RBI) on Wednesday slapped penalties of R1.5 crore each on Bank of Maharashtra, Dena Bank and Oriental Bank of Commerce for violating know-your-customer and anti-money-laundering norms, reports fe Bureau in Mumbai. It also cautioned eight other banks to ensure strict compliance.

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