After statutory inspection of the bank regarding its financial position as on March 31, 2018, the central bank said the penalty was imposed "for contravention of the directions issued by RBI on 'Loans and Advances to Directors, Relatives and Firms/Concerns in which they are Interested', and non-compliance with the Master Directions on 'Know Your Customer (KYC)'".from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/2JRJnEA
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