Indian central bank fines 19 lenders for non-compliance on SWIFT use
06 Mar 2019

India’s central bank has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT.

The Reserve Bank of India imposed the fines over the past four days, according to stock exchange filings by the banks, though specifics of the non-compliance were not disclosed.

Four bankers whose institutions were fined said that most of the issues related either to interpretation of the RBI’s guidelines or minor technical matters.

By Suvashree Choudhury and Abhirup Roy, Reuters, 5 March 2019

Link to Reuters

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One Response to “Indian central bank fines 19 lenders for non-compliance on SWIFT use”
Deepa .

Deepa . March 6, 2019

it will be helpful if more clarity is provided along with the list of all the lenders

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