Reserve Bank of India (RBI) has imposed monetary penalties worth Rs62.78 lakh on Manappuram Finance Ltd and Anand Rathi Global Finance Ltd for violating various laws prescribed by the regulator. The central bank imposed a Rs42.78 lakh penalty on Manappuram Finance from Kerala and Rs20 lakh on Anand Rathi Global Finance from Mumbai.
The Reserve Bank of India (RBI) has levied a monetary penalty of Rs 90.92 lakh on Axis Bank and Rs 42.78 lakh on gold loan firm Manappuram Finance for non-compliance with specific directions of the banking sector regulator. This penalty is attributed to the violation of guidelines outlined by the RBI on various aspects, as detailed in the Reserve Bank of India (KYC) Directions, 2016.
Get latest articles and stories on Latest News at LatestLY. The Reserve Bank on Thursday imposed a monetary penalty of Rs 90.92 lakh on Axis Bank and Rs 42.78 lakh on gold loan firm Manappuram Finance for violation of certain directions of the banking sector regulator. Latest News | RBI Slaps Fines on Axis Bank, Manappuram Finance.
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