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RBI imposes Rs 2.49 crore penalty on 3 banks
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banks, including Dhanlaxmi Bank and Punjab and Sind Bank, for contravention of regulatory norms. A penalty of Rs 1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances — Statutory and Other Restrictions', KYC and certain norms related to interest rate on deposits, the Reserve Bank of India (RBI) said.
Further, a fine of Rs 1 crore has been imposed on Punjab and Sind Bank for non-compliance with certain directions on 'Loans and Advances — Statutory and Other Restrictions'.
The central bank has also imposed a penalty of Rs 29.55 lakh on ESAF Small Finance Bank for non-compliance with the directions issued by it on 'Customer Service in Banks'.
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