RBI Imposes Rs 3 crore Penalty on IndusInd Bank

The Reserve Bank of India (RBI) has imposed Rs 3 crore penalty on IndusInd Bank for breaching rules on income classification norms.

As per the RBI Statement, the penalty was imposed after the regulator observed violation of various regulations issued by the RBI on non-performing loans and extension of non-fund based limits.
Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
  • IndusInd Bank Chairman- R. Seshasayee, Headquarter- Mumbai, Owner- Hinduja Group.
Source- The Indian Express