Latest Statutory Inspection for Supervisory Evaluation News & Updates

RBI Penalizes Airtel Payments Bank with Rs 31.80 Lakh Fine

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Mumbai, March 30 (IANS) The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited (the bank) for non-compliance with certain provisions of the directions issued by RBI on ‘Disclosure in Financial Statements’. The penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.The Statutory Inspection for Supervisory Evaluation (I…