The Reserve Bank on Friday said it has imposed penalties worth Rs 71 crore on 36 public, private and foreign banks for non-compliance with various directions on time-bound implementation and strengthening of SWIFT operations. Interestingly, the main culprit - PNB has not been fined.
A penalty of Rs 4 crore each has been imposed on Bank of Baroda, Catholic Syrian Bank, Citibank NA, Indian Bank and Karnataka Bank. The penalty on BNP Paribas, City Union Bank, Indian Overseas Bank, UCO Bank, Union Bank of India, and United Bank of India, is Rs 3 crore each.
The amount is Rs 2 crore each in case of Allahabad Bank, Bank of Maharashtra, Canara Bank, DCB Bank, Dena Bank, Jammu & Kashmir Bank, Oriental Bank of Commerce, and Syndicate Bank. A penalty of Rs 1 crore each has been slapped on Bank of America, Barclays Bank Plc, Central Bank of India, Corporation Bank, DBS Bank, Deutsche Bank AG, HSBC, ICICI Bank and IDBI Bank.
Also Rs 1 crore each penalty has been imposed on IndusInd Bank, JP Morgan Chase Bank, Karur Vysya Bank, Punjab & Sind Bank, Standard Chartered Bank, State Bank of India, Tamilnad Mercantile Bank and YES Bank.
A penalty of Rs 4 crore each has been imposed on Bank of Baroda, Catholic Syrian Bank, Citibank NA, Indian Bank and Karnataka Bank. The penalty on BNP Paribas, City Union Bank, Indian Overseas Bank, UCO Bank, Union Bank of India, and United Bank of India, is Rs 3 crore each.
The amount is Rs 2 crore each in case of Allahabad Bank, Bank of Maharashtra, Canara Bank, DCB Bank, Dena Bank, Jammu & Kashmir Bank, Oriental Bank of Commerce, and Syndicate Bank. A penalty of Rs 1 crore each has been slapped on Bank of America, Barclays Bank Plc, Central Bank of India, Corporation Bank, DBS Bank, Deutsche Bank AG, HSBC, ICICI Bank and IDBI Bank.
Also Rs 1 crore each penalty has been imposed on IndusInd Bank, JP Morgan Chase Bank, Karur Vysya Bank, Punjab & Sind Bank, Standard Chartered Bank, State Bank of India, Tamilnad Mercantile Bank and YES Bank.
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