RBI imposes penalty on Federal Bank, PNB
Federal Bank was penalised as it issued some demand drafts, each for a value of rupees fifty thousand and above, without incorporating the name of the purchaser on the face of it.
Federal Bank was penalised as it issued some demand drafts, each for a value of rupees fifty thousand and above, without incorporating the name of the purchaser on the face of it.
The audit highlighted the deficiency in the training and engineering procedure of IndiGo.
The action has been taken against the promoters for non-compliance of the Authority’s orders besides the Authority.
The RBI statement said the statutory inspection of the bank was done by RBI with reference to its financial position as on March 31, 2020, and examination of the risk assessment report pertaining to the Forensic Audit Report (FAR) by an external auditor.
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