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.
Tax Concept is a dedicated team of financial writers, legal analysts, and tax professionals committed to breaking down complex Indian corporate updates. From real-time GST amendments and crucial Income Tax judgements to EPFO schemes and corporate law updates, TaxConcept serves as a reliable, authoritative guide for chartered accountants, businesses, and everyday taxpayers seeking absolute compliance clarity.