The Reserve Bank of India (RBI) has penalized five banks, including Punjab National Bank (PNB), for non-compliance with RBI directions. PNB became the fifth bank to be penalized, with a penalty of Rs 1.31 crore. The penalty was imposed for non-compliance with RBI directions regarding 'Loans and Advances: Statutory and Other Restrictions' and the 'Reserve Bank of India (Know Your Customer (KYC) Direction, 2016'.
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