Delhi HC: Girl Being Friendly on Valentine’s Day Does Not Justify Forced Sexual Activity under POCSO  ||  Delhi HC: Street Vendors Must Maintain Cleanliness and Not Encroach on Public Spaces  ||  Delhi HC: Victim’s Negligence Cannot Bar Compensation in Railway Accident Cases  ||  Jharkhand HC: Pre-1947 Transfers Exempt from Section 46; 45-Year Delay Blocks Restoration  ||  Delhi HC: Mediation Settlement Does Not Remove Criminal Liability But Can be Considered For Bail  ||  Delhi High Court: Newslaundry Acted Maliciously and Showed Intolerance Toward TV Today  ||  SC: New Tree Growth on Land Approved For Development Does Not Qualify it as 'Deemed Forest'  ||  SC: Confiscation Proceedings Can Continue Against Wife of Deceased Public Servant with Illicit Asset  ||  Supreme Court: Strict Procedure Must be Followed under UP Gangsters Act Due to Serious Consequences  ||  Supreme Court: HCs Can Go Beyond FIR to Quash Frivolous or Vexatious Criminal Cases    

Reserve Bank of India imposes monetary penalty on Punjab National Bank- (Reserve Bank of India) (27 Mar 2019)

MANU/RPRL/0063/2019

Banking

Reference is invited to the Press Release No. 2018-2019/2144 dated March 08, 2019 regarding imposition of penalty on 36 banks for non-compliance with various directions issued by the Reserve Bank of India (RBI) on time-bound implementation and strengthening of SWIFT-related operational controls. In continuation thereto, RBI has imposed, by an order dated February 25, 2019, a monetary penalty of Rs. 20 million (Rupees Twenty Million) on Punjab National Bank (the bank) for non-compliance with aforesaid directions 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 failure of the bank to adhere to the aforesaid directions issued by RBI and based on the extent of non-compliance in the bank. 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 : DIRECTION   NON-COMPLIANCE   PENALTY   IMPOSITION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved