Sunday, January 24, 2021

India: Two banks fined by RBI over non-compliance with anti-money laundering norms

India: Two banks fined by RBI over non-compliance with anti-money laundering norms 1
By Olaalpha

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India: Two banks fined by RBI over non-compliance with anti-money laundering norms 2

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.[…]

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