Reserve Bank of India imposes ₹96.4 lakh fine on Bangladesh’s Sonali Bank for non-compliance issues

The Reserve Bank of India (RBI) has imposed a fine of ₹96.4 lakh on Bangladesh’s state-owned Sonali Bank PLC for non-compliance with certain norms, including the Know Your Customer (KYC) Directions, 2016. The RBI also fined the Central Bank of India ₹1.45 crore for irregularities in loan sanctioning and handling unauthorized electronic transactions.