Central Bank imposes fine of Rs 2million on Indian Bank

Public sector lender Indian Bank Ltd. said the financial intelligence unit of the Central Bank of Sri Lanka (CBSL) has imposed a monetary penalty of Rs. 2 million (INR 5.85 lakh) on the bank for failing to comply with the provisions of Sri Lanka’s Financial Transactions Reporting Act. The penalty pertains to non-conformity with the regulatory framework under the FTRA …

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