RBI Imposes Penalties on BoM, Hinduja Leyland Finance, and Poonawalla Fincorp Union

Daily Current Affairs / RBI Imposes Penalties on BoM, Hinduja Leyland Finance, and Poonawalla Fincorp Union

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Category : Business and economics Published on: August 20 2024

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Bank of Maharashtra was fined Rs 1.27 crore for violations concerning KYC, loan credit delivery, and cyber security frameworks, while Hinduja Leyland Finance faced a penalty of Rs 4.90 lakh for non-compliance with KYC Directions, 2016.
Poonawalla Fincorp was penalized Rs 10 lakh for not following RBI guidelines for non-deposit-taking NBFCs, including issues with improper loan interest charges.