Wednesday, December 9, 2015

RBI imposes Rs 1 crore penalty on Dhanlaxmi Bank

Reserve Bank of India imposed a Rs 1-crore penalty on Dhanlaxmi Bank for non-adherence to KYC (know your customer) and anti-money laundering guidelines.
  • The RBI had issued a show cause notice to the bank for not having complied withKYC and AML guidelines. It pertained to a current account that is under investigation by the economic offences wing of Mumbai police.
Key points :
  • Dhanlaxmi Bank Headquarters : Thrissur, Kerala,
  • Dhanlaxmi Bank CEO : G. Sreeram.

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