Supreme Court: Anti-Suit Injunction Cannot Rest on Speculation of Unenforceable Foreign Decree  ||  SC: High Court’s Location doesn't Become Arbitration Seat Merely by Appointing Arbitrator  ||  SC Disapproves PIL Challenging Inter-Se Evaluation of Tender Bids  ||  Delhi HC: Bail Grant or Cancellation Cannot Depend on Monetary Settlement With Complainant  ||  Kerala HC Directs Bar Council to Publish List of Advocates Practising Without AIBE Clearance, CoP  ||  Rajasthan HC: Candidate Cannot Blame E-Mitra for Failing to Correct Caste Category Within Deadline  ||  Patna HC: Mere FIR Registration cannot Justify Cancellation of PDS Licence  ||  Calcutta HC: NEET Medical Board Cannot Reassess Disability Percentage of PwBD Candidates  ||  Madras HC: MLAs Cannot Challenge Assembly Vote Later if They Raised No Objection During Voting  ||  Karnataka HC Upholds DRDO Land Acquisition, Citing Primacy of National Security    

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