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RBI Fines Federal Bank & Karur Vysya Bank for Rule Violations

Kumari Sonali

RBI Fines Federal Bank & Karur Vysya Bank for Rule Violations:

The RBI has imposed a total penalty of ₹35.60 lakh on Federal Bank (₹27.30 lakh) and Karur Vysya Bank (₹8.30 lakh) for regulatory non-compliance. FB was fined for opening savings accounts for ineligible entities, violating deposit rules, while Karur Vysya Bank failed to meet loan compliance norms.

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