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

By: |
Mumbai | Published: April 30, 2015 3:57:17 AM

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.

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.

For Updates Check Banking News; follow us on Facebook and Twitter

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1HDFC Q4 consolidated net crawls up 9.6% on deferred tax outgo
2Indian rupee trims early losses, still down 7 paise against US dollar
3Warren Buffett’s investments success: 10 lessons you can learn