RBI imposed Rs 59 lakh penalty on KEB Hana Bank – The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹59 Lakh on KEB Hana Bank for non-compliance with the directions issued by RBI on “Reserve Bank of India (Interest Rate on Deposits) Directions, 2016”.
- RBI imposed the penalty in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949 (the Act).
- RBI conducted the Statutory Inspection for Supervisory Evaluation of the bank with reference to its financial position as on March 31, 2020.
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