RBI imposes monetary penalty on IGH Holdings over non-compliances
Mumbai (Maharashtra) [India], March 17 (ANI): The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 11.25 lakh on IGH Holdings Private Limited, Mumbai (the company) for some non-compliance with the provisions of RBI Act, among some others.
In a release, RBI said the action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement ent