CURRENT AFFAIRS

Detailed explanation-1: -Mumbai: The Reserve Bank on Thursday imposed a penalty of Rs 2 crore on Standard Chartered Bank-India for delays in reporting of frauds to it.

Detailed explanation-2: -RBI imposes monetary penalty on IndusInd Bank Ltd (the bank) for non-compliance with certain directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’.

Detailed explanation-3: -Ambedkar Nagarik Sahakari Bank Maryadit, Gwalior (M.P) (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions and Know Your Customer (KYC).

Detailed explanation-4: -RBI imposes monetary penalty on Indian Bank This action is based on the 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. Background.

Detailed explanation-5: -RBI imposes monetary penalty on Kotak Mahindra Bank Limited This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Act.