Canara Bank, Bank of India, and Jammu & Kashmir Bank have all been hit with financial fines by the RBI for breaking regulatory guidelines.
Canara Bank was fined ₹1.63 crore by the Reserve Bank of India (RBI) for failing to follow its rules regarding priority sector lending, deposit interest rates, and financial inclusion.
For not transferring qualified funds to the Depositor Education and Awareness Fund within the allotted time, Bank of India was fined ₹1 crore.
For violating guidelines pertaining to loans and advances, financial inclusion, and Know Your Customer (KYC) standards, Jammu & Kashmir Bank was fined ₹3.31 crore.
No comments:
Post a Comment