The Central Bank has imposed a monetary penalty of Rs 1.8 crore on Punjab National Bank and Rs 30 lakh on ICICI Bank. The penalty on PNB has been imposed for contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949 (the Act).source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-imposes-monetary-penalty-of-rs-30-lakh-on-icici-bank-and-rs-1-8-crore-on-pnb/articleshow/88301221.cms
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