RBI imposes monetary penalty on Federal Bank Limited
by Team Emka
RBI
The Reserve Bank of India (RBI) has, by an order dated July 7, 2022, imposed a monetary penalty of ₹5.72 crore
RBI
This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
RBI
The Statutory Inspection for Supervisory Evaluation (lSE) of the bank conducted by RBI w
RBI
e bank’s financial position as on March 31, 2020 & the subsequent supervisory assessment carried out by RBI
RBI
Scrutiny Report and all related correspondence pertaining to the same, revealed, inter alia, non-compliance
RBI
Scrutiny Report and all related correspondence pertaining to the same, revealed, inter alia, non-compliance