MIL-OSI Economics: RBI imposes monetary penalty on Mercedes-Benz Financial Services India Private Limited (formerly known as Daimler Financial Services India Private Limited), Pune, Maharashtra foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.
RBI said that it has fined both KKR India Financial Services and Daimler Financial Services for failing to comply with the 'Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016' issued by it.
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.
RBI imposes penalty on City Union Bank, 3 other lenders
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Last Updated: May 20, 2021, 09:13 PM IST
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Synopsis
A penalty of Rs 1 crore has been imposed on City Union Bank Limited for contravention of/non-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/Security Requirements.
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In each case, the RBI said the penalties were imposed based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by them with customers.
A penalty of Rs 1 crore has been imposed on City Union Bank Limited for contravention of/non-compliance with certain provisions contained in the RBI (Lending to Micro, Small & Medium Enterprises (MSME) Sector) Directions, 2017