The Reserve Bank of India (RBI) has imposed penalties on Yes Bank and ICICI Bank. ICICI Bank has been fined Rs 1 crore, while Yes Bank faces a penalty of Rs 91 lakh. The penalties were imposed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) and the Reserve Bank of India Act, 1934. Additionally, HSBC Limited has been fined 3.6 million rupees. The penalties were announced on May 27, May 28, and May 29.
India cenbank acts against two Edelweiss Group companies for 'evergreening' loans https://t.co/zHO7axvUIz https://t.co/CnF5ITLgbR
⚠️ INDIA CENBANK: IMPOSED A MONETARY PENALTY OF 3.6 MLN RUPEES ON HSBC LIMITED
The Reserve Bank of India has today, in the exercise of its powers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) and the Reserve Bank of India Act, 1934 imposed business restrictions on the following…
RBI fines ICICI Bank Rs 1 crore, Yes Bank Rs 91 lakh. Here's why https://t.co/iqpeCKhjSU
#RBI imposes #penalty on #YesBank and #ICICIBank https://t.co/4KCZvPxFyQ