On Thursday, the central bank imposed a fine of Rs 5.39 crore on Paytm Payments Bank for non-compliance of certain provisions of RBI guidelines related to Know your customer (KYC), cybersecurity, etc.
RBI penalises Union Bank, RBL Bank, Bajaj Finance over non-compliance yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
In all cases, the RBI added that penalties were based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their respective customers.