TrendingVideosIndia
Opinions | CommentEditorialsThe MiddleLetters to the EditorReflections
Sports
State | Himachal PradeshPunjabJammu & KashmirHaryanaChhattisgarhMadhya PradeshRajasthanUttarakhandUttar Pradesh
City | ChandigarhAmritsarJalandharLudhianaDelhiPatialaBathindaShaharnama
World | United StatesPakistan
Diaspora
Features | Time CapsuleSpectrumIn-DepthTravelFood
EntertainmentIPL 2025
Business | My MoneyAutoZone
UPSC | Exam ScheduleExam Mentor
Advertisement

RBI imposes penalty on BNP Paribas, 3 others

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 31.80 lakh on BNP Paribas bank for non-compliance with certain directions issued by the central bank on “Interest Rate on Advances”. Giving details, it said the statutory...
Advertisement

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 31.80 lakh on BNP Paribas bank for non-compliance with certain directions issued by the central bank on “Interest Rate on Advances”.

Giving details, it said the statutory inspection for Supervisory Evaluation of the bank was conducted by it with reference to its financial position as of March 31, 2023.

Advertisement

The central bank has also imposed penalties on Hewlett Packard Financial Services (India) of Rs 10.40 lakh, SMFG India Credit Company (Rs 23.10 lakh), and Muthoot Vehicle & Asset Finance Rs 7.90 lakh) for non-compliance with certain norms.

According to the RBI, the action is based on deficiencies in statutory and regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Advertisement
Advertisement
Show comments
Advertisement