RBI imposes penalties on Federal Bank, Bank of India - Economic Times
7/8/2022 12:00:00 AM3 years 7 months ago
by PTI
by PTI
About Federal Bank, RBI said the bank failed to ensure that no incentive (cash or non-cash) was paid to its staff engaged in insurance broking/corporate agency services by the insurance company, according to a separate statement. RBI had carried out Statutory…
Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 5.72 crore on for deficiencies in regulatory compliance. A penalty of Rs 70 lakh has also been imposed on for non-compliance … [+939 chars]
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