RBI imposes penalty on ICICI Bank and PNB for rule violations

RBI imposes penalty on ICICI Bank and PNB for rule violations

The penalty on ICICI Bank has been imposed “for non-compliance with certain directions issued by RBI on ‘Levy of penal charges on non-maintenance of minimum balances in savings bank accounts’ dated November 20, 2014″.

In a statement, the RBI said that the statutory inspection for supervisory evaluation of the bank was conducted by RBI with reference to its financial position as on March 31, 2019.