Reserve Bank penalises 22 banks for violating KYC/Anti-money laundering norms.
RBI imposes fine of Rs 49.5 crore on 22 banks, including SBI, PNB, Yes Bank, Kotak Mahindra, Canara Bank and Bank of India.
The agency has issued cautionary letters to Citibank, Stanchart, RBS, BNP Paribas, Tokyo Mitsubishi, Barcleys and State Bank of Patiala.
PTi