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RBI penalises UCO Bank, Axis...

Mumbai : The Reserve Bank of India (RBI)...

RBI penalises UCO Bank, Axis Bank and Syndicate Bank

Mumbai : The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders -- UCO Bank, Axis Bank and Syndicate Bank -- over deficiencies in complying with different regulatory norms. The RBI imposed a penalty of Rs 2 crore each on UCO Bank and Axis Bank for non-compliance with its circular on 'Collection of Account Payee Cheques - Prohibition on Crediting Proceeds to Third Party Account' and Master Directions on 'Frauds - Classification and Reporting by commercial banks and select FIs'. In addition, a separate penalty of Rs 20 lakh was imposed...

RBI penalises UCO...

Mumbai : The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders -- UCO Bank, Axis Bank and Syndicate Bank -- over deficiencies in...
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