Reserve Bank of India imposes Rs 25 lakh penalty on Punjab & Sind Bank

The state-owned bank had reported a few cyber incidents to the RBI on May 16 and 20, 2020

Topics

Reserve Bank of India | Punjab & Sind Bank | Banking sector

NBFC, finance, banking

The Reserve Bank of India on Friday imposed a penalty of Rs 25 lakh on Punjab and Sind Bank for non-compliance with certain provisions of directions on ‘Cyber Security Framework in Banks’.

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The state-owned bank had reported a few cyber incidents to the RBI on May 16 and 20, 2020, the central bank said while giving details. The RBI issued a show-cause notice to the bank.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, July 03 2021. 01:32 IST