The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2 crore on Punjab National Bank for violations of regulatory directions by the bank observed during assessment of implementation of SWIFT- related operational controls.
Punjab National Bank is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
