RBI fines SBI, ICICI Bank and 17 others for non-compliance on SWIFT use
- RBI tightened banks' SWIFT requirements after $2 billion PNB fraud
- Fines represent a stern signal, says CARE Ratings
Mumbai: India's central bank has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT.
Select your Category
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more