Maharashtra (Mumbai) [India], January 12 : The Reserve Bank of India (RBI) has imposed monetary penalties, of varying degrees, against ESAF Small Finance Bank, Dhanlaxmi Bank, and Punjab and Sind Bank over various non-compliances.
A fine of Rs 29.55 lakh, Rs 6 lakh, and Rs 1 crore, respectively, has been slapped against these three banks, statements from the central bank said on Friday.
The actions against these banks were taken based on deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
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