RBI imposes penalty on 14 banks for contravention of various norms thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Highlights
RBI has concluded that it warranted the imposition of cash penalty on the fourteen banks.
The fines won’t have any impact on the banks customers.
New Delhi: The Reserve Bank of India (RBI) has slapped 14 banks with cash penalties on 14 banks due to their non-compliance with certain provisions. Some of the notable banks which came under the radar of RBI include Bank of Baroda, State Bank of India (SBI), Bandhan Bank, Bank of Maharashtra, Central Bank of India, Credit Suisse AG, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Punjab & Sind Bank, South Indian Bank, The Jammu & Kashmir Bank and Utkarsh Small Finance Bank.
RBI imposes penalties on SBI, 13 banks for rule violations pakistantelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pakistantelegraph.com Daily Mail and Mail on Sunday newspapers.
NBFCs push for parity with banks, seek access to credit repository of large borrowers
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Non-bank lenders that are mandated to report the relevant credit information every quarter don’t have access to the data on their own customers, or prospective customers, through the CRILC portal.
Non-bank lenders, considered crucial for helping further the cause of financial inclusion in India’s layered but burgeoning economy, want parity with their banking peers in accessing an exclusive database on large borrowers for early stress warnings that should give financiers adequate lead time to deploy the defensive moat.
The grouping that represents such lenders has written to the Reserve Bank of India (RBI) for full access to the Central Repository of Information on Large Credits, or CRILC, arguing that information on such accounts should strengthen the credit appraisal process and help enforce greater credit discipline among borrowers.
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