Punjab & Sind Bank, Dhanlaxmi Bank slapped with penalties by RBI

The banking regulator imposed fines on the two commercial lenders. 

Punjab & Sind Bank, Dhanlaxmi Bank slapped with penalties by RBI
RBI has imposed penalties on ESAF Small Finance Bank, Dhanlaxmi Bank, and Punjab and Sind Bank

The Reserve Bank of India (RBI) has imposed penalties on ESAF Small Finance Bank, Dhanlaxmi Bank, and Punjab and Sind Bank for various non-compliance issues.

While the state-run bank was slapped with a fine of Rs 1 crore, a penalty of Rs 1.2 crore was imposed on the private sector lender. 

According to statements released by the central bank on Friday, penalties of Rs 29.55 lakh, Rs 6 lakh, and Rs 1 crore have been imposed on these three banks, respectively.

The penalties stem from regulatory compliance shortcomings and do not imply a judgment on the validity of transactions or agreements between the banks and their customers.

(With inputs from agencies)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

RECOMMENDED STORIES

https://www.zeebiz.com/personal-finance/photo-gallery-sbi-fd-and-senior-citizen-savings-scheme-interest-rate-calculator-know-which-guaranteed-return-will-provide-better-income-quarterly-on-rs-20-lakh-investment-in-five-years-calculations-inside-334063

SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?

https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-special-fd-vs-pnb-400-day-fixed-deposit-interest-rate-maturity-calculator-what-will-general-senior-citizens-get-in-return-on-inr-rs-350000-700000-investments-in-guaranteed-fixed-income-333262

SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?

https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-how-soon-will-monthly-sip-of-rs-11000-reach-rs-8-crore-corpus-target-retirement-financial-planning-with-sip-calculator-334296

Power of Compounding: How soon will monthly SIP of Rs 11,000 reach Rs 8 crore corpus target?

https://www.zeebiz.com/market-news/news-short-term-investment-ideas-stocks-to-buy-for-15-days-axis-direct-recommends-fortis-healthcare-aegis-logistics-check-targets-334316

Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets

https://www.zeebiz.com/personal-finance/photo-gallery-ppf-interest-rate-maturity-retirement-corpus-planning-calculator-how-to-get-inr-rs-72000-month-tax-free-income-from-public-provident-fund-calculations-80c-tax-benefits-333983

PPF Calculations: How to get Rs 72,000 a month tax-free income from Public Provident Fund?

https://www.zeebiz.com/personal-finance/news-rs-1111-monthly-sip-for-40-yrs-11111-for-20-yrs-or-22222-for-10-years-which-works-best-at-same-expected-return-334395

Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?

https://www.zeebiz.com/personal-finance/photo-gallery-rs-3500-monthly-sip-for-35-years-vs-rs-35000-monthly-sip-for-16-years-which-can-give-you-higher-corpus-in-long-term-compound-interest-benefits-mutual-fund-return-calculator-retirement-planning-334249

Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations

https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-how-long-it-will-take-to-build-rs-5-crore-corpus-target-with-inr-5000-10000-and-15000-monthly-investment-retirement-planning-with-sip-calculator-market-linked-return-334417

Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?

Reported By: Brajesh Kumar
Written By: ZeeBiz WebTeam
Updated: Fri, Jan 12, 2024
07:29 PM IST
New Delhi, ZeeBiz WebDesk
RELATED NEWS
RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm By Ashish Agashe RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm By Ashish Agashe
Electricity distribution companies continue to remain a burden on state finances: RBI Electricity distribution companies continue to remain a burden on state finances: RBI

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x