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In another release, the central bank said a penalty of Rs 59.10 lakh has also been imposed on Woori Bank
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The Reserve Bank of India (RBI) has imposed fines on three institutions, including the Industrial Bank of Korea, for non-compliance with regulatory norms.
In a statement on Friday, RBI said that Industrial Bank of Korea has been fined Rs 36 lakh for non-compliance with 'Know Your Customer' (KYC) norms.
In another release, the central bank said a penalty of Rs 59.10 lakh has also been imposed on Woori Bank for non-compliance with its instructions.
Apart from this, a fine of Rs 12.35 lakh has also been imposed on New Delhi-based Indiabulls Commercial Credit.