KARUR VYSYA BANK LTD. - 590003 - RBI Imposes Monetary Penalty on Bank
Karur Vysya Bank Ltd has informed BSE that the Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 1 Cr (Rupees One crore) on the Bank for non-compliance with certain provisions of directions issued by RBI on 'Lending to Non-Banking Financial Companies (NBFCs)', and 'Bank Finance to Non-Banking Financial Companies (NBFCs)'. The penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.08-07-2021
