RBI slaps these two banks with Rs 3 crore fine each over anti-money laundering norms

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance with the directions issued by the central bank on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer or Anti-money Laundering (KYC/AML) norms.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PsEsi7