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Anti-Corruption Protesters Arrested in Uganda

On July 23, police in Uganda’s capital...

Special Advisor on International Disability Rights Travel to South Korea, Brunei, Malaysia, and Cambodia 

Special Advisor on International Disability Rights (SAIDR)...

No Justice for Rights Defender’s Death in Kyrgyzstan Prison

It has been four years since Azimjon Askarov,...

RBI Penalizes Axis Bank and Manappuram Finance: Imposes Fines for Non-Compliance with KYC and Loan Guidelines

KYCRBI Penalizes Axis Bank and Manappuram Finance: Imposes Fines for Non-Compliance with KYC and Loan Guidelines

On Thursday, the Reserve Bank of India (RBI) imposed a penalty of Rs 91 lakh on Axis Bank and Rs 43 lakh on gold loan firm Manappuram Finance for non-compliance with Know Your Customer (KYC) and loan guidelines. The regulatory action is a result of identified deficiencies in compliance and does not imply a judgment on the validity of any transactions or agreements between the bank and its customers, as clarified by the RBI.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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