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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

PRIVATE BANKS: ENGAGED BUSINESS CORRESPONDENTS FOR ESTABLISHING ACCOUNT-BASED RELATIONSHIP WITH CUSTOMERS FROM CERTAIN REGIONS, NOT ACCEDED BY RBI

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person SBM BANK (INDIA) LTD.
  ENGAGED BUSINESS CORRESPONDENTS FOR ESTABLISHING ACCOUNT-BASED RELATIONSHIP WITH CUSTOMERS FROM CERTAIN REGIONS, NOT ACCEDED BY RBI   IMPOSED PENALTY RS.88,70,000

10-APR-2024
 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
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