Reserve Bank of India (RBI) has imposed monetary penalty of Rs 2 crore on RBL Bank Limited.
Penalty has been imposed by an order issued on 27th September, 2021 by RBI for contravention of/non-compliance with certain provisions of directions issued by RBI as well as penalty is also imposed for the period during which the contravention or default continued.
However, this action is 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 bank with its customers.
Click here for official order:
Knowledge Update :
Cheque Books of these Banks will not Work from Next Month