US EditionRBI imposes Rs 2.27 crore penalty on RBL Bank
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6 Articles
RBI imposes Rs 2.27 crore penalty on RBL Bank
In a statement, the Reserve Bank of India (RBI) said the penalty has been imposed for non-compliance with certain provisions of the directions issued by it on 'Internal Ombudsman Scheme, 2018', 'Fair Practices Code for Lenders', 'Credit Card Operations of Banks', 'Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks' and 'Recovery Agents engaged by Banks'.
RBI slaps ₹2.27 crore fine on RBL Bank for non-compliance
The RBI said RBL failed to ensure that the loan recovery agents it engaged during those periods did not resort to intimidation or harassment and that it did not ensure police verification of the agents before employing them
RBI imposes heavy penalty on RBL Bank Limited for non-compliance with directives
As per the RBI directive, the rules overlooked by the bank include directives on ‘Internal Ombudsman Scheme, 2018’, ‘Fair Practices Code for Lenders’, ‘Credit Card Operations of Banks’, ‘Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’ and ‘Recovery Agents engaged by Banks’. Get more Banking News and Business News on Zee Business.
RBI Imposes Rs 2.27 Crore Penalty On RBL Bank
The Reserve Bank of India on Monday said it has imposed a penalty of Rs 2.27 crore on RBL Bank Ltd for non-compliance with norms related to recovery agents.In a statement, the Reserve Bank of India said the penalty has been imposed for non-compliance with certain provisions of the directions issued by it on 'Internal Ombudsman Scheme, 2018', 'Fair Practices Code for Lenders', 'Credit Card Operations of Banks', 'Managing Risks and Code of Conduct…
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