RBI Imposes Fines on Leading Indian Banks for Regulatory Violations: What You Need to Know?
In recent regulatory actions, the Reserve Bank of India (RBI) has levied fines on several prominent banks, including the State Bank of India (SBI), Canara Bank, and City Union Bank, for various violations. These penalties underscore the central bank’s commitment to enforcing compliance standards within the banking sector. Let’s delve into the details and understand the implications of these fines.