The Hindu Business Line : RBI fines ICICI Bank, StanChart
It is a sad development for both of the leading private sector and foreign banks. With professionals managing these banks and endowed with high technological environment, it is not clear as to how these banks are violating the RBI norms and ending up paying penalties. It is time that their communication and training systems are geared up so that the operating staff would not land the banks in disgrace. Many a time PSBs are blamed to be unproductive, not so customer or tech-savvy, inefficient and so on. But vis-a-vis their counterparts, PSBs seem to be meticulous in all compliances and not coming under RBI radar for wrong reasons.