Skip to content
- Punjab National Bank was fined a total of Rs 1.32 crore by RBI.
- Penalty have been imposed for breaking Know Your Customer (KYC) as well as loans and advances related norms.
- Two corporations owned by the state government were granted working capital demand loans by PNB.
- These loans were granted against amounts receivable from the government by way of subsidies, refunds, or reimbursements.
- PNB failed to keep the records related to the identification of customers and their addresses.
- These records were obtained during the course of the business relationship in certain accounts.
error: Content is protected !!
