Reserve Bank Of India Fines Lenders For SWIFT Non-Compliance
PYMNTS
MARCH 5, 2019
The specific reasons for the non-compliance was not released. Some of the fined banks said the fines generated from a misinterpretation of guidelines on unimportant technical issues. When RBI checked for compliance, it found gaps in more than 20 places. Some bankers said they’ve since corrected the issues.
Let's personalize your content