RBI imposes penalty on Daimler Financial Services India, KKR India Financial Services : Rashtra News
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The central bank said it conducted statutory inspection of the two companies with reference to their financial position as on March 31, 2020.
The penalties were imposed after considering their replies to its notices, oral submissions made in the personal hearing and examination of additional submissions made by them.
The RBI, however, added that the penalties are based on the deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by them with their customers.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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