Reserve Bank Of India (RBI) Fined SBM Bank (India) Rupees 88.70 Lakh For Non-Compliance With Regulatory Norms
The Reserve Bank of India (RBI) has issued a Rs 88.70 lakh penalty on SBM Bank (India) for failing to comply with specific regulatory requirements. This contains licensing requirements and guidelines pertaining to the Liberalised Remittance Scheme.
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