{"id":72514,"date":"2019-10-16T11:51:16","date_gmt":"2019-10-16T11:51:16","guid":{"rendered":"http:\/\/blastingskyhawk.com\/?p=72514"},"modified":"2019-10-16T11:51:17","modified_gmt":"2019-10-16T11:51:17","slug":"rbi-imposes-rs-1-crore-fine-on-lvb-rs-75-lakh-on-syndicate-bank-for-violating-norms","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/rbi-imposes-rs-1-crore-fine-on-lvb-rs-75-lakh-on-syndicate-bank-for-violating-norms\/","title":{"rendered":"RBI imposes Rs 1 crore fine on LVB, Rs 75 lakh on Syndicate Bank for violating norms"},"content":{"rendered":"\n<p>The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore on Lakshmi Vilas Bank for non-compliance with certain provisions of directions on Income Recognition and Asset Classification norms.<\/p>\n\n\n\n<p>This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A read with Section 46(4)(i) of the Banking Regulation Act 1949, the central bank said in a statement late on Monday.<\/p>\n\n\n\n<p>The RBI also imposed a monetary penalty of Rs 75 lakh on Syndicate Bank for non-compliance with directions issued on Frauds Classification and Reporting, and Housing Sector: Innovative Housing Loan Products Upfront disbursal of housing loans.<\/p>\n\n\n\n<p>\u201cThis penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act 1949 taking into account the failure of the bank to adhere to directions,\u201d it said in a statement.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore on Lakshmi Vilas Bank for non-compliance with certain provisions of directions on Income Recognition and Asset Classification norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A read with Section 46(4)(i) of [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":72515,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-72514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/72514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=72514"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/72514\/revisions"}],"predecessor-version":[{"id":72516,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/72514\/revisions\/72516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/72515"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=72514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=72514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=72514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}