RBI fines 4 Public Sector Banks for violating KYC norms

The Reserve Bank of India has imposed penalties on four state-run lenders for violating Know Your Customer norms and anti-money laundering standards.

Punjab National Bank, Allahabad Bank, and UCO Bank were fined Rs 50 lakh each while Corporation Bank was fined Rs 25 lakh.

Static/Current Takeaways Important For ESIC:

  • RBI 25th Governor: Shaktikant Das, Headquarters: Mumbai, Founded: 1 April 1935, Kolkata.

Source: The Money Control

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