RBI slaps Rs 5 crore fine on Airtel Payments Bank
Airtel Payments Bank has been faced with violation charges with The Reserve Bank of India (RBI) imposing a penalty of Rs 5 crore for flouting operating guidelines and know your customer (KYC) norms. Seen as one of the biggest penalties imposed by RBI, the regulator has fined Sunil Mittal-led digital payment bank under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949....