RBI penalizes BNP Paribas and 4 other banking enterprises
The Reserve Bank of India fined BNP Paribas, Hewlett Packard Financial Services, SMFG India Credit Company, and Muthoot Vehicle & Asset Finance for regulatory non-compliance. Fines ranged from Rs 7.9 lakh to Rs 31.8 lakh for issues such as interest rate disclosures and IT governance. The penalties focus on statutory deficiencies rather than transaction validity.
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
The Reserve Bank of India fined BNP Paribas, Hewlett Packard Financial Services, SMFG India Credit Company, and Muthoot Vehicle & Asset Finance for regulatory non-compliance. Fines ranged from Rs 7.9 lakh to Rs 31.8 lakh for issues such as interest rate disclosures and IT governance. The penalties focus on statutory deficiencies rather than transaction validity. 
