Quotes with Resistance & Support
Market Information

RBI slaps Rs 30 lakh fine on ICICI, Rs 55 lakh on ING Vysya

This article was posted on Oct 9, 2012 and is filed under Press Releases

The Reserve Bank of India (RBI) has slapped penalties of Rs 55 lakh on ING Vysya Bank , a private sector lender based in Bangalore and Rs 30 lakh on ICICI Bank, the second largest lender in terms of loan book, for violating Know Your Customer (KYC) norms.

“The penalties have been imposed on these banks for contravention of various directions and instructions issued by the RBI on KYC norms/anti-money laundering (AML) standards/combating of financing of terrorism (CFT) / prevention of money laundering act, 2002,” the regulator said in a release on Wednesday.

Tags: , , ,

Similar Posts:

Breakouts

+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

Samrudhiglobal.com wishing you and your friends and family Advance xmas and Happy New year...view more »
- by Sam
Status: Awaiting reply

Market Stats

Search Our Archives

Latest Investment Idea

Recent Comments