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Latest Articles in Know Your Customer KYC

RBI Imposes Rs 25 Lakh Penalty On Axis Bank

The RBI said a scrutiny was carried out during February and March 2020 in a customer account maintained with Axis Bank, and it was observed that the bank had "failed to comply" with directions contained in the Reserve Bank of India KYC Direction, 2016.

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RBI Imposes Penalty On 2 Co-Operative Banks, 1 NBFC

A penalty of Rs 3 lakh has been imposed on Jijamata Mahila Sahakari Bank, Pune, Maharashtra for non-compliance with the directions on exposure norms and statutory/ other restrictions-urban co-operative banks (UCBs)

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SBI To Levy Charges For Cash Withdrawal Beyond 4 Free Transactions Per Month

Non-financial transactions and transfer transactions will be free of cost at branches, ATM, CDM (cash dispensing machines) for the BSBD account holders.

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RBI Penalises 3 Maharashtra-Based Co-Operative Banks

A penalty of Rs 4 lakh has been imposed on Excellent Co-operative Bank, Mumbai, and Rs 2 lakh each on Janseva Sahakari Bank Limited, Pune and The Ajara Urban Co-operative Bank, Ajara (Kolhapur).

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RBI Fixes Gold Bond Issue Price At Rs 4,842 Per Gram; Subscription Opens On May 24

The government has decided to issue the bonds in six tranches from May 2021 to September 2021. The RBI will issue the bonds on behalf of the Government of India.

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RBI Imposes Rs 25.5 Lakh Penalty On Jaipur-Based Jumbo Finvest (India)

The RBI said it has imposed a penalty of Rs 9.5 lakh on Balaji Instalments Limited, Pilibhit for non-compliance with certain provisions.

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