RBI Punishes Banks, but Gently

RBI has imposed a combined penalty of nearly Rs50 crore on Indian banks. Strangely, the apex banking regulator has let foreign banks get away and issued just a letter of caution

On 12th July, RBI imposed a combined penalty of nearly Rs50 crore on 22 banks for violation of KYC (know your customer) norms and mis-selling of gold, insurance and mutual fund products. But, it has stood firm on its...

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