Alm

The Reserve Bank of India (RBI) on Friday imposed penalty of Rs 50 lakh to 2 crore on six more state-owned banks for violation of Know Your Customer (KYC) and anti-money laundering (ALM) norms. Those public sector lenders included Allahabad Bank, Bank of Maharashtra, Corporation Bank, Dena Bank, IDBI Bank, and Indian Bank.

Here's how banks violated RBI norms on KYC

Banks got a rebuff from the Reserve Bank of India (RBI). The central bank on Monday imposed nearly Rs 50 crore fines on 22 banks while warning seven other banks for violating Know Your Customer (KYC) or Anti-Money Laundering (ALM). A brief synopsis as to why RBI imposed such fine....

RBI revises bank KYC guidelines, advises new set of norms

The Reserve Bank of India (RBI) on Monday issued the master circular revising certain guidelines related to bank Know Your Customer (KYC) policy. It suggested to create Unique Customers Identification Code (UCIC) while bringing changes in new account opening process.

Risks to banks increased marginally: Fin Stability Report

Indian banks are yet to complete its journey through rough weather. Risks to the banking sector have increased marginally since December 2012 while the credit quality of commercial banks could worsen further, said the latest Financial Stability Report (FSR) issued by the Reserve Bank of India on Thursday.

No discernible trends in CV loans: IndusInd's Sobti

IndusInd Bank is trying to seize opportunities in advisory services. With a network of 500 branches, the private sector lender is strengthening its investment banking arm by broking merger and acquisition as well as private equity deals. The bank rules out any credit quality threat arising out of its CV loans.

Infra loans from banks: Too much lending too soon?

India’s top bankers, S Sridharan MD of SBI and Shikha Sharma MD, CEO of Axis Bank, in an exclusive interview on CNBC-TV18, detail if infrastructure loans given by banks could lead to asset liability mismatches, a greater chance of bad loans or if it is too early to worry.