These 22 Banks Are Slapped With 49.5 Crore Fines
7. Development Credit Bank
Penalty amount: 1.00 Crore
DCB Bank is private sector scheduled commercial bank in India. It offers value for money products to cater the needs of individuals, small and medium businesses, rural banking and corporates in selective regions. The Bank is present in 10 states and 2 Union Territories.
Development Credit Bank is fined with 1 Cr by the Reserve Bank of India.
8. Dhanlaxmi Bank
Penalty Amount: 2.00 Crore
Dhanlaxmi Bank is an old private sector bank headquartered in Thrissur City, Kerala, India. The penalty amount for Dhanlaxmi Bank amounted up to 2 Cr.
9. Indian Overseas Bank
Penalty Amount: Rs 3.002 Crore
Indian Overseas Bank (IOB) is a major bank based in Chennai (Madras), with more than 2650 domestic branches, 3 extension counters and six branches overseas as of March 2012. The bank’s total income was 19, 578.13 crore for the year 2012. For the same year the total business grew by 24 percent to 3, 21,707 crore from 2, 59,020 crore.
The penalty amount for Dhanlaxmi Bank amounted up to Rs 3.002 Crore.
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