The Reserve Bank of India (RBI) has imposed a penalty of Rs 10,000 each on Bank of America, N.A., and HDFC Bank Ltd for violations of certain norms. Bank of America was penalized for violating reporting requirements under the Liberalised Remittance Scheme of FEMA 1999.
from Banking/Finance-Industry-Economic Times https://ift.tt/J1zMEoX
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