Action against SBM Bank (India) Ltd., under sections 35 A and 36(1)(a) of the Banking Regulation Act, 1949 - ଆରବିଆଇ - Reserve Bank of India
80338597
ପ୍ରକାଶିତ ତାରିଖ ଜାନୁଆରୀ 23, 2023
Action against SBM Bank (India) Ltd., under sections 35 A and 36(1)(a) of the Banking Regulation Act, 1949
The Reserve Bank of India has today, in exercise of its powers under sections 35A and 36(1)(a) of the Banking Regulation Act, 1949, directed SBM Bank (India) Ltd to stop, with immediate effect, all transactions under Liberalised Remittance Scheme (LRS) till further orders. This action is based on certain material supervisory concerns observed in the bank. (Yogesh Dayal) Press Release: 2022-2023/1597 |
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