Tuesday , October 26 2021

RBI levies Rs 1 crore penalty on Lakshmi Vilas Bank

Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on Lakshmi Vilas Bank for non-adherence to guidelines on IRAC norms and divergence in respect of two NPA accounts aggregating to Rs 169.50 crore for the year ended March 31, 2017.

Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.

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