SME Times is powered by   
Search News
Just in:   • Slowing economy needs a boost  • US envoy to discuss Venezuela with Russian officials  • 67.82 lakh farmers miss PM-KISAN scheme benefits  • Strong rupee to hit exports, fear exporters  • GST introduction increase the assessee base by 80 pc: FM 
Last updated: 09 Feb, 2019  

Allahabad.Bank.Thmb.jpg RBI penalises Allahabad Bank, Corporation Bank

Allahabad.Bank.9.jpg
   Top Stories
» Strong rupee to hit exports, fear exporters
» GST introduction increase the assessee base by 80 pc: FM
» India regarded world over for its Vasudhaiva Kutumbakam philosophy: Naidu
» Frame Your Idea a big hit at Frames 2019
» Slow exports growth due to increasing protectionism: Gupta
IANS | 09 Feb, 2019
The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders Allahabad Bank and Corporation Bank over deficiencies in complying with various regulatory norms.

In a regulatory filing to the BSE on Friday, the Allahabad Bank said that the RBI has imposed a penalty of Rs 1.5 crore "for not monitoring the end use of funds, delay in classification and reporting of fraud and non-adherence with RBI guidelines during restructuring of accounts in respect of one of its borrowers".

The Corporation Bank in a similar regulatory filing said the RBI has imposed a penalty of Rs 2 crore on the government-owned lender "due to some lapses in monitoring of end use of funds and exchange of information with other banks in respect of one borrower along with some other banks".
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 19 Mar, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter