For non compliance of KYC norms for huge cash withdrawals
Union Bank of India announced that the Reserve Bank of India has imposed a penalty of Rs. 1 crore on the Bank for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms in a case of huge cash withdrawals in certain accounts maintained with the Bank.Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content