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RBL Bank

28th-Sep-2021 08:07Source: BSE

RBL Bank - Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')

Pursuant to provisions of SEBI Listing Regulations, we inform you that the Reserve Bank of India ('RBI') has imposed, by an order dated September 27, 2021 (as received by the Bank on September 27, 2021), a monetary penalty of Rs. 2.00 crore (Rupees two crore only) on RBL Bank Limited ('the Bank'). As per the said order, the penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949 ('Act'), for contravention of section 28 (h) of the Reserve Bank of India (lnterest Rate on Deposits) Directions, 2016; and for the non-compliance with the provisions of section 10 A (2) (b) of the Act including penalty imposed for the period during which the subject contravention or default continued.

The Bank has always endeavored to maintain the highest standards of Compliance and Culture within the organization, and shall continue to do so.

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