RBI imposes â¹5 crore penalty on South Indian Bank
RBI on Friday imposed a penalty of â¹5 crore on South Indian Bank for non-compliance with directions issued by it. The non-compliance pertained to bad loan classification, Know Your Customer (KYC) guidelines and treasury function. In April, RBI had slapped a fine of â¹3 crore on IDBI Bank for failing to comply with norms related to reporting of bad loans.