The Reserve Bank of India has fined Manappuram Finance ₹20 lakh for failing to classify certain gold loan accounts with overdues of more than 90 days as NPA
The RBI clarified that the penalty was a result of regulatory compliance shortcomings and should not be interpreted as a judgment on the validity of any transactions or agreements between the company and its customers, , manappuram finance ltd, Reserve Bank of India (RBI), fines
City Union Bank, Tamilnad Mercantile Bank and Two Other Lenders Penalised by RBI
Moneylife Digital Team
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The Reserve Bank of India (RBI) has imposed monetary penalty on City Union Bank Ltd, Tamilnad Mercantile Bank and two other lenders for contravention of certain directions issued by the banking regulator.
A penalty of Rs1 crore has been imposed on City Union Bank for contravention of and on-compliance with certain provisions contained in the RBI (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017 and the circulars on educational loan scheme and credit flow to agriculture – agricultural loans – waiver of margin and security requirements.
RBI slaps penalty on City Union Bank, 3 other lenders, here's why | Economy News india.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india.com Daily Mail and Mail on Sunday newspapers.