Bank News: If you have an account with this bank, then be careful, RBI has taken a big decision
Newz Fast, New Delhi: After imposing penalty on 13 banks last day, RBI has now fined the Indian operations of Bank of Bahrain & Kuwait BSC for non-compliance of cyber security rules. Operations) has imposed a fine of Rs 2.66 crore.
Show cause notice issued
In a statement issued by the RBI, it was said that the bank has failed to implement the system to detect unusual and unauthorized, internal or external activities in the database.
According to RBI's statement, it has also failed to implement the Security Operation Center on an urgent basis in the matter of bank's safety. In this regard, a show cause notice was issued by the central bank to Bahrain & Kuwait BSC.
Steps were taken against 13 banks
RBI said that the penalty has been imposed for lapses in regulatory compliance. It does not call into question the validity of any transaction or agreement entered into by the bank with its customers.
Earlier, RBI had taken a big step against 13 banks of the country. Due to violation of various regulatory rules by RBI, strict action was taken against these banks. Fines ranging from Rs 50,000 to Rs 4 lakh were imposed on these banks.
Irrelevant with customer transactions
In the information given by the Reserve Bank, it was said that the main reason for the action taken against the bank is the lack of various regulatory compliances.
Because of which strict action has been taken. Apart from this, RBI said that this penalty has nothing to do with the transactions done with the customers.