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RBI imposes penalty of Rs 1 crore on Karur Vysya Bank

05 Mar 2019 Evaluate

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Karur Vysya Bank for non-compliance with the directions issued by RBI on Time-bound implementation & strengthening of SWIFT- related operational controls as per their circular dated February 20, 2018.

Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai

Peers
Company Name CMP
HDFC Bank 803.05
ICICI Bank 1584.00
Axis Bank 1332.40
Kotak Mahindra Bank 487.60
Indusind Bank 919.00
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