RBI penalises UCO Bank for Non-Compliance

The Reserve Bank of India (RBI) has imposed Rs 2 crore penalty on UCO Bank for non-compliance of instructions issued by RBI on the collection of account payee instruments and those on frauds-classification and reporting. RBI directions on Fraud Classification and Reporting The Reserve Bank of India (RBI) advises banks from time to time about the major fraud-prone areas ..

Month: Current Affairs - February, 2019

Topics: collection of account payee instruments • Fraud Classification and Reporting • RBI • Reserve Bank of India • UCO Bank