Ori. HC: ‘Online RTI Portal’ Launched by Orissa High Court  ||  Del HC: In Delhi, Giving Monthly Pension of Rs.3000 to Building & Construction Workers is Very Small  ||  Del HC: Oil Manufac. Restrained from Using ‘Vigoura’ Mark, in Trademark Infringement Case by Pfizer  ||  SC: HC’s Decision Allowing Amendment of Cheque Date Mentioned in Complaint, Set Aside  ||  Del. HC: If Accused Discharged/Acquitted under PMLA, Properties Attached Shall be Released  ||  Bom. HC: For Issuing Reopening Notice After Three Years, Sanctioning Authority has to be PCCIT  ||  Del. HC: Delhi Govt. to Frame Policy for Compensation to Victims of Chinese Manjha  ||  Del HC: Stay on Delhi Govt’s Circular Asking Private Unaided Schools to Get Sanction Before Fee Hike  ||  SC: Stamp Duty Can be Imposed by State on Insurance Policies Executed Within State  ||  SC: IO to Make Clear & Complete Entries in Chargesheet, Role Played by Each Accused to be Mentioned    

Reserve Bank of India imposes monetary penalty on Syndicate Bank- (Reserve Bank of India) (05 Feb 2019)

MANU/RPRL/0031/2019

Banking

The Reserve Bank of India (RBI) has imposed, by an order dated January 30, 2019, a monetary penalty of Rs. 10 million on Syndicate Bank (the bank) for non-compliance with the directions contained in Master Circular on Frauds - Classification and Reporting dated July 01, 2015 and Circular on Risk Management Systems in Banks dated October 07, 1999 issued by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949 taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI.

This action is based on 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.

Tags : PENALTY   IMPOSITION   SYNDICATE BANK  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved