Current Affairs Economy & Banking

RBI fines 4 Public Sector Banks for violating KYC norms

Category : Economy & Banking

 The Reserve Bank of India has imposed penalties on four state-run lenders for violating Know Your Customer norms and anti-money laundering standards. Punjab National Bank, Allahabad Bank, and UCO Bank were fined Rs 50 lakh each while Corporation Bank was fined Rs 25 lakh.
Source: The Money Control


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