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

Posted on: October 9th 2012 in 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 be…

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