July 2 2019
The Reserve Bank of India (RBI) has, by an order dated June 25, 2019, imposed monetary penalty on four banks for non-compliance with certain provisions of directions issued by RBI on Know Your Customer (KYC) norms / Anti Money Laundering (AML) Standards and Opening of Current Accounts, as detailed below:
| Sl. No. | Name of the bank | Amount of penalty (₹ in million) |
| 1. | Allahabad Bank | 5 |
| 2. | Corporation Bank | 2.5 |
| 3. | Punjab National Bank | 5 |
| 4. | UCO Bank | 5 |