Reserve Bank of India Slaps Rs2-crores Penalty on IDFC Bank

Posted on:25 Oct 2017 15:15:15
Reserve Bank of India Slaps Rs2-crores Penalty on IDFC Bank
25 October 2017 Current Affairs:  The Reserve Bank of India imposed a monetary penalty of Rs 2 crore on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances.

The penalty has been imposed in the exercise of powers vested in RBI under the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to certain directions issued by RBI.
 The Reserve Bank of India imposed a monetary penalty of Rs 2 crore on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances.

The penalty has been imposed in the exercise of powers vested in RBI under the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to certain directions issued by RBI.

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