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RBI fines TMB & DCB bank for violation of regulatory norms
Utkarsh Classes
Updated: 20 Mar 2024
3 Min Read
The banking sector regulator, the Reserve Bank of India (RBI), on 19 March 2024, fined the Indian private sector bank Tamilnad Mercantile Bank Limited (TMB )
and the foreign bank DCB India for violating the RBI's regulatory norms.
The Tamilnad Mercantile Bank Limited was fined Rs 1.38 crore. According to the RBI, the Tamilnad Mercantile Bank Limited failed to:
The DCB was fined Rs 63.6 lakh. According to the RBI, the DCB Bank failed to
Managing Director and Chief Executive Officer: Thiru S.Krishnan
Headquarters: Thoothukudi, Tamil Nadu
Tagline: Totally Motivated Bank
Managing Director and Chief Executive Officer: Surojit Shome
Headquarters: Mumbai, Maharashtra
Tagline: Live More, Bank Less
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