Reserve Bank of India (RBI) has imposed a fine of Rs30 lakh on Standard Chartered Bank (StanChart) for violating specific provisions of know-your-customer (KYC) norms.
Standard Chartered Bank (StanChart) is reportedly challenging before the state consumer redressal commission an order passed by the Mumbai district consumer commission, asking it to reverse unauthorised credit card transactions worth Rs90,684 of a customer s account.
Singapore is a “magnet for wealthy people from everywhere, including from China”, says StanChart group CEO Bill Winters. Read more at straitstimes.com.