RBI slaps Rs 10.10 lakh penalty on City Union Bank, 2 more entities

Wait 5 sec.

The Reserve Bank of India has levied fines on three financial entities. City Union Bank faced a penalty for incorrect loan charges and data reporting. Mintifi Finserve was fined for delayed customer KYC record uploads. Newa Investments was penalized for appointing directors without prior RBI approval. These actions highlight the RBI's commitment to regulatory adherence.