2022
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Question
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Capital Adequacy Ratio
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Interest rate on deposits
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KYC norms
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Priority sector lending
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Detailed explanation-1: -RBI on Friday said it has imposed a penalty of Rs 59 lakh on KEB Hana Bank for non-compliance with the certain norms related to ‘interest rate on deposits’.
Detailed explanation-2: -Reserve Bank of India has imposed a penalty of Rs 59 lakh on the Korean bank, KEB Hana Bank.
Detailed explanation-3: -Press Releases. The Reserve Bank of India (RBI) has, by an order dated September 07, 2022, imposed a monetary penalty of ₹36 lakh (Rupees Thirty-six lakh only) on Industrial Bank of Korea (the bank) for non-compliance with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’.
Detailed explanation-4: -The Reserve Bank of India (RBI) has, by an order dated December 12, 2022, imposed a monetary penalty of ₹2.66 crore (Rupees Two crore sixty-six lakh only) on Bank of Bahrain & Kuwait BSC, India Operations (the bank) for non-compliance with directions issued by RBI on “Cyber Security Framework in Banks”.
Detailed explanation-5: -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.