MC Explains: Why the RBI penalised Spandana Sphoorty, 8 other financial institutions - Moneycontrol

Various cooperative banks from Maharashtra and a few others have been fined for violating norms, mostly with regard to KYC

The Reserve Bank of India imposed monetary penalties on eight Indian cooperative banks and cancelled the certificates of registration of six non-banking financial companies, the central bank said on … [+3610 chars]

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