RBI imposes Rs 10 lakh penalty on South Indian Bank
20th Jun 2019

The Reserve Bank of India (RBI) has imposed a fine of Rs 10 lakh on South Indian Bank for violating norms regarding bank guarantees. The penalty follows references from a government department and a private party alleging non-payment of invoked bank guarantees by the lender.

South Indian Bank is considered one of the most proactive banks in India with a competent tech savvy team of professional at the core of services.