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The Reserve Bank of India (RBI) on April 5 said it has imposed Rs 1-crore monetary penalty on IDFC First Bank for rule violations.
The bank has not complied with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’, according to a press release from the central bank.
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IDFC First Bank had sanctioned term loans to a public sector undertaking for financing infrastructure projects without undertaking due diligence on the…
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