RBI imposes penalty of Rs 3 crore on SBM Bank

On Wednesday, the Reserve Bank imposed a penalty of Rs 3 crore on SBM Bank India owning to non-compliance of regulatory norms of SBM Bank Mauritius. These were amalgamated with SBM Bank India in November 2018.

According to a statement of Reserve Bank of India concerning the situation, the penalty has been issued as a result of non-compliance by SBM Bank Mauritius with regards to certain provisions of directions directed by Cent....

Click here to read more

Tags : Reserve Bank, SBM Bank Mauritius, SBM Bank India,

SHARE THIS ARTICLE

What are you searching for?

Business

RBI imposes penalty of Rs 3 crore on SBM Bank

Published On 17 Oct 2019 12:26 PM

Recent Posts

According to the White House, Biden was not exposed to the question regarding Israel's decision to postpone its ground invasion of Gaza.

Asia's leading graphite producer, China, will restrict exports of a crucial battery material.

Japan requests Google to reverse the names of contested islets in the East China Sea.

Israel Rectifies Greta Thunberg's Post Regarding Gaza By Stating, "Hamas Doesn't..."

"A great deal of suffering": Jews in Europe anticipate an increase in antisemitism in the wake of the Hamas attack.

Airport and Versailles evacuations are prompted by French arrests following bomb concerns.

A man who is charged with bringing firearms onto the grounds of the Wisconsin State Capitol has pleaded not guilty to the misdemeanor charge.

Jeju Shinhwa World provides customized staycations for all visitors.

The GSDF Osprey makes its maiden voyage to Okinawa.

Conflict between Israel and Hamas: India demands strict compliance with international humanitarian law

Relations between Israel and its Arab neighbors in the Middle East

Eight airports in France have received security notifications.

A prospective Biden visit to Israel is fraught with political and security obstacles.

Physicians vow to oppose the government's plan to increase medical school quotas.

The economy minister of Japan pays a visit to Yasukuni Shrine prior to the autumn festival.