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  #2  
7th July 2015, 09:20 AM
Super Moderator
 
Join Date: Apr 2013
Re: Penalty on ING Vysya Bank

In ING Vysya Bank Savings, Domestic & NRO Term Deposits Rates Zero Penalty on Pre-Closure of FD plus deposits & other ING Vysya Bank Interest Rates For Domestic / Nro / Nre Term Deposits are as given below:

Interest less then crore:
7 - 14 Days 4.00%
15 - 30 Days 4.50%
31 - 45 Days 6.00%
46 - 90 Days 7.50%
91 - 120 Days 8.00%
121 - 179 days 8.00%
180 Days 8.25%
181 Days to 269 Days 8.25%
271 Days to 363 Days 8.25%
364 Days 8.25%
270 Days 8.25%
365 Days to 389 Days 8.50%
390 Days (12 months 25 days) 8.50%


Ktotak bank Interest rates



  #3  
8th January 2016, 05:49 PM
Unregistered
Guest
 
Re: Penalty on ING Vysya Bank

Hello sir, I am Smurti and I want to know about the penalty imposed by RBI on ING Vysya Bank . What were its reasons?
  #4  
8th January 2016, 05:49 PM
Super Moderator
 
Join Date: Apr 2013
Re: Penalty on ING Vysya Bank

ING Vysya bank is now known as Kotak Mahindra Bank. It was established in 1930 as Vysya Bank. Ing Vysya bank has merged with Kotak Mahindra Bank from 1st April, 2015.

ING Vysya bank has it’s headquarter located in Bangalore, India.
ING VYsya Bank has been ranked as a safest banker and it comes under Top 5 Most Trusted Private Sector Banks of India.
Its Key products include:

Deposit accounts
Loans
Investment services
Business banking solutions
Treasury
Fixed income products and others

AS you have asked about the penalty on ING Vysya Bank, check information below
The Reserve Bank of India (RBI) has imposed a penalty of Rs 55 lakh on ING Vysya Bank

Limited for breaching of various directions and instructions issued by the regulator on KYC (Know Your Customer) norms, AML standards, battling of financing of terrorism, PML Act, 2002.

The Executive Director of RBI, in exercise of powers vested with under the provisions of Section 47A(1)(b) read with Section 46(4)(i) of the Banking Regulations Act, 1949 has imposed the penalty on the bank.


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