MoneyWorks4Me

Corporation Bank informs about company updates

28 Jul 2016 Evaluate

Corporation Bank has informed that Reserve Bank of India (RBI) in exercise of powers conferred under Section 47(A) (1) (c) read with the Section 46(4) (i) of the Banking Regulation Act, 1949 has imposed a penalty of Rs 10 million on the Bank due to some lapses in KYC/AML norms, along with some other Banks. The Bank has already taken necessary preventive measures / action plan to avoid such recurrence.

The above information is a part of company’s filings submitted to BSE.

Peers
Company Name CMP
State Bank Of India 961.70
PNB 116.10
Bank Of Baroda 230.00
Canara Bank 118.60
Union Bank Of India 172.00
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