RBI slapped a penalty of Rs 5 crore on Airtel Payments Bank Limited for violating know your customer (KYC) norms, an official statement said here.
“The Reserve Bank of India has imposed, on March 7, 2018, a monetary penalty of Rs 50 million on Airtel Payments Bank Limited for contravening the ‘Operating Guidelines for Payments Banks’ and directions issued by RBI on Know Your Customer (KYC) norms,” the statement said.
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