22 Banks have been fined by RBI for KYC failures. The fines range from Rs 0.50 lakhs in the case of Ratnakar Bank to rs 3.002 crores in the case of IOB. Most other Banks have been fined between 2.50 to 3.0 crores.
The complete list of Banks and the fines imposed is available here:
This is in addition to the three Banks who were fined last month. In this set of fines, RBI imposed a penalty of Rs. 5 crore imposed on Axis Bank, Rs. 4.5 crore on HDFC Bank and Rs. 1 crore on ICICI Bank.
Naavi
