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BSE SENSEX
74,339.44
+486.50
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Corporate Announcement
Security Code
532218
Company
South Indian Bank Ltd
Exchange Received Time
19/05/2018 15:41:39
Exchange Disseminated Time
19/05/2018 15:41:47
Time Taken
00:00:08
Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements), Regulations, 2015 |
5/19/2018 3:41:39 PM
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, this is to inform that the Reserve Bank of India (RBI), have vide letter dtd 15-05-2018, imposed a monetary penalty of Rs. 50 million on the bank for non-compliance with the directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer (KYC) norms and treasury function and for deficiencies in compliance function and compliance culture. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
In compliance with the Regulation 30(8), the information is hosted on the website of the bank at www.southindianbank.com.
We request you to take the above information on record.
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