New Delhi: The banking regulator, Reserve Bank of India has imposed a monetary penalty of Rs 3 crore on Union Bank, Rs 2 crore on Dena Bank and Rs 1 crore each on IDBI and the SBI for non-compliance with various directions, regulatory filings said on Saturday.
In seperate filings to the exchange, Union Bank, IDBI Bank, Dena Bank and SBI said that the apex bank has imposed a penalty of Rs 3 cr, 2 cr, 1 cr and 1 cr respectively for delay in adherence to its directives on ‘Time bound implementation and strengthening of SWIFT related controls’ contained in the RBI circular of February 20, 2018.