These 22 Banks Are Slapped With 49.5 Crore Fines

Bangalore: The RBI imposed fines totaling 49.5 crore on 22 private and public sector banks including SBI, PNB and Yes Bank for violating KYC/anti-money laundering norms.

"After considering the facts of each case...Reserve Bank came to conclusion that some of the violations were substantiated and warranted imposition of monetary penalty..." the central bank said in a statement, reported PTI.

Besides, Reserve Bank has issued cautionary letters to Citibank, Standard Chartered Bank, Barclays Bank, BNP Paribas, Royal Bank of Scotland, Bank of Tokyo Mitsubishi and State Bank of Patiala. Following probe into charges levelled by an online portal Cobrapost, RBI has earlier imposed fines totalling 10.5 crore on top three private lenders Axis Bank, HDFC Bank and ICICI Bank.

Read on to know the 22 banks those were slammed by RBI with big penalties.

2013's Small Businesses That Can Fetch You Big Bucks

Recently Graduated? Learn How to Handle Your Finances