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Indian Economy - Understanding the basics of Indian economic system

23-Jan-21

RBI imposes Rs.2 crore penalty on Standard Chartered Bank

The Reserve Bank has imposed a penalty of Rs.2 crore on Standard Chartered Bank–India for delays in reporting of frauds to it.
The monetary penalty has been imposed on the bank for non-compliance with certain directions contained in the 'Reserve Bank of India (Frauds - Classification and Reporting by commercial banks and select FIs) Directions 2016'.

By: Rohit Middha

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