The RBI has imposed monetary penalty on City Union Bank, Tamilnad Mercantile Bank and two other lenders for contravention of certain directions issued by the central bank. A penalty of Rs 1 crore has been imposed on City Union Bank Limited for contravention of/non-compliance with certain provisions contained in the RBI (Lending to MSME Sector) Directions, 2017 and the circulars on the Educational Loan Scheme and Credit Flow to Agriculture – Agricultural Loans – Waiver of Margin/Security Requirements.
In another statement, the RBI said it has imposed a penalty of Rs 1 crore on Tamilnad Mercantile Bank for non-compliance with certain provisions of directions issued by it on the Cyber Security Framework in Banks.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Other banks:
Important takeaways for all competitive exams:
India, a land of diverse cultures, landscapes, and histories, continues to enchant travelers from around…
The world of Yakshagana, a traditional theatre form of Karnataka, has lost a towering figure.…
Japan, often referred to as the "Land of the Rising Sun," is a captivating island…
IndusInd Bank, in collaboration with Circularity Innovation Hub India Private Limited (CIH), has achieved a…
The Reserve Bank of India (RBI) has instructed Talkcharge Technologies to halt the issuance and…
In the latest advancement of China's space program, the Shenzhou-18 mission saw the successful launch…