Question
Which bank was fined ₹3 lakh for granting loans to
directors and non-compliance with Customer Due Diligence (CDD)?Solution
The Sundargarh District Central Co-operative Bank Ltd. was fined ₹3 lakh by the RBI for granting loans to directors, not transferring unclaimed amounts to the Depositor Fund, and violating CDD norms during account opening.
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