Canara Bank has been fined ₹41.80 lakh (Rupees Forty One Lakh Eighty Thousand Only) by the Reserve Bank of India (RBI) as follows:
Within the allotted time, the bank failed to upload some customers' KYC records to the Central KYC Records Registry (CKYCR).
Even though the last customer-induced transaction in certain accounts was less than a year old, the bank labeled those accounts as inoperative.
In a different update, Puran Associates Private Limited was fined ₹3.10 lakh (Rupees Three Lakh Ten Thousand only) by the Reserve Bank of India (RBI) for failing to reclassify some accounts as "non-performing assets" during restructuring.
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