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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 21-NOV-2024

PRIVATE BANKS: DIRECTED TO STOP ALL TRANSACTIONS UNDER LIBERALIZED REMITTANCE SCHEME

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person SBM BANK (INDIA) LTD.
  DID NOT ADHERE TO INSTRUCTIONS OF RBI ON MATERIAL SUPERVISORY CONCERNS   DIRECTED TO STOP ALL TRANSACTIONS UNDER LIBERALIZED REMITTANCE SCHEME TILL FURTHER ORDERS

23-JAN-2023 		RBI VIDE ITS PRESS RELEASE DATED 31/01/2023 PARTIALLY RELAXED THE RESTRICTIONS BY ALLOWING ATM/POS TRANSACTION UNDER LRS THROUGH KYC COMPLAINT INTERNATIONALLY ACTIVE DEBIT CARDS ISSUED BY BANK UP TO 15/03/2023 OR UNTIL FURTHER ORDERS  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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