Category : Economy & Banking
 The Reserve Bank of India (RBI) has imposed a penalty of Rs5 crore on South Indian Bank (SIB) for non-compliance with its directions on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer (KYC) norms and treasury function. The penalty has also been imposed on the Thrissur-headquartered private sector bank for deficiencies in its compliance function and compliance culture. |
| Source- The Hindu Business Line |
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