RBI Imposes Monetary Penalty on ICICI Bank and YES Bank for Rule Violations
27 May 2024
On May 27, the Reserve Bank of India (RBI) announced a monetary penalty on ICICI Bank and YES Bank due to rule violations. ICICI Bank was fined Rs 1 crore for sanctioning term loans to certain entities to replace budgetary resources for specific projects without proper due diligence. The bank...
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