HomeNewsBankingRBI imposes monetary penalty of Rs 2.33 crore on Hyderabad-based Spandana Sphoorty...

RBI imposes monetary penalty of Rs 2.33 crore on Hyderabad-based Spandana Sphoorty Financial Limited

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.33 crore on Spandana Sphoorty Financial Limited, based in Hyderabad due to non-compliance with certain provisions of the ‘Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016”.

  • RBI imposed the fine on Spandana Sphoorty Financial Limited in the exercise of its powers under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58 B of the Reserve Bank of India Act, 1934.

******** End ********

★★★★  You Can Also Read  ★★★★

Computer Awareness Quiz Questions Set (Banking)
Read Daily Current Affairs Topic Wise
Daily Current Affairs Quiz (Current GK Test)
Static Gk Quiz Questions and Answers

📣 Prepare Exams is now on Facebook, Twitter, Instagram, YouTube Channel, and Google News to get all the latest News first Like, Follow and bookmark our website @ PrepareExams.com.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News