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Punjab & Sind Bank faces RBI penalty for non-compliance

March 28, 2025 at 01:41 AM UTCBy FilingReader AI

Punjab & Sind Bank [BSE:PSB] announced today that it has been penalized by the Reserve Bank of India (RBI) with a monetary penalty of Rs.68.20 Lakhs. This penalty stems from non-compliance with certain directives related to 'Creation of a Central Repository of Large Common Exposures', ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting' and 'Financial Inclusion - Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)'. The penalty was imposed following the Statutory Inspection for Supervisory Evaluation (ISE 2023) conducted by the RBI as on March 31, 2023. The bank has been informed of this penalty via RBI's letter dated March 26, 2025. Punjab & Sind Bank will take note of the penalty as per Regulation 30 of SEBI (LODR) Regulations, 2015.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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