Skip to content
- A monetary penalty of ₹27.30 lakh has been imposed by RBI on IndusInd Bank for violation of regulatory norms.
- RBI imposed a monetary penalty of ₹20 lakh on Manappuram Finance for violation of regulatory norms.
- RBI found that certain savings deposit accounts were opened by IndusInd Bank in the name of ineligible entities.
- Manappuram Finance did not verify PAN of customers from verification facility of the issuing authority at the time of customer acceptance.
- Manappuram Finance also allotted multiple identification codes to customers in place of a Unique Customer Identification Code for each customer.
error: Content is protected !!
