Yak Rbi Fines Idfc Banking Corporation Together With Aye Banking Corporation For Violations
The Yes Bank Ltd was slapped amongst fine for non-compliance amongst the directions issued yesteryear RBI on Income Recognition Asset Classification (IRAC) norms as well as delayed reporting of information safety incident involving ATMs of the bank. The IDFC Bank Ltd was fined for contravention of regulatory restrictions pertaining to loans as well as advances.
The penalties accept been imposed inwards practise of powers vested inwards the Reserve Bank nether the provisions of department 11(3) of FEMA 1999, taking into describe of piece of job concern human relationship the violations of the instructions/directions/guidelines issued yesteryear Reserve Bank of Republic of Republic of India from fourth dimension to time.
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