In 2019, RBI had imposed a ₹ 3 crore penalty on SBM Bank (India) for non-compliance of regulatory norms by SBM Bank (Mauritius), which amalgamated with the former in November 2018.

The Reserve Bank of India (RBI) said in a brief statement Monday that it has ordered SBM Bank India to stop all transactions under Liberalised Remittance Scheme (LRS) till further orders.

RBI asks SBM Bank to stop transactions under remittance scheme The account holders can avail of certain within the limit of $0.25 million. Written by FE Bureau ...

The Reserve Bank of India has directed SBM Bank (India) Ltd to stop, with immediate effect, all transactions under the Liberalised Remittance Scheme (LRS) till further orders.

Business News: Mumbai, Jan 23 (PTI) The Reserve Bank on Monday asked SBM Bank (India) Ltd to stop with immediate effect all transactions under the Liberalised Remitt ...

SBM Bank India, a subsidiary of the State Bank of Mauritius was among the first universal bank in the country to receive a banking license from the RBI, the Times of India reported.As of today, it ...

The Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 88.70 lakh on SBM Bank (India) for non-compliance with certain regulatory norms. In a statement, the central bank said ...

The Reserve Bank of India (RBI) on January 31 partially relaxed restrictions on SBM Bank (India) Ltd related to transactions under the Liberalised Remittance Scheme (LRS), ...

Mumbai, Jan 31 (PTI) The Reserve Bank on Tuesday relaxed the restrictions on SBM Bank (India) and allowed ATM/POS transactions under Liberalised Remittance Scheme (LRS) till March 15. Mumbai, Jan ...

Currently, while foreign investors, including portfolio investors, can own up to 74 per cent in Indian banks, regulations cap a strategic foreign investor’s stake at 15 per cent. However, the RBI can ...

The Reserve Bank of India has directed SBM Bank (India) to stop all transactions under Liberalised Remittance Scheme (LRS) till further orders.SBM Bank (India) commenced operations on 1st December ...