Updated Mar 14, 2024, 02:50 PM ISTThe RBI found that the Bandhan Bank had opened savings deposit accounts for ineligible entities, a charge that the bank failed to rebut adequately. RBI Imposes Penalty On Bandhan Bank, Bank of India (Image Source: iStockphoto)The Reserve Bank of India (RBI) has issued monetary penalties against several financial institutions for failing to comply with regulatory directives, highlighting the central bank’s commitment to upholding financial discipline. As per the RBI’s circular, Bandhan Bank Ltd. has been slapped with a penalty of Rs 29.55 lakh for its failure to adhere to the ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’. The…
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Bandhan Bank Penalty: RBI Imposes Penalty On Bandhan Bank, Bank of India – Here’s Why
