RBI relaxes restrictions on SBM Bank India until March 15

The banking regulator, on January 23, asked SBM Bank (India) to stop with immediate effect all transactions under the Liberalised Remittance Scheme (LRS) till further orders. "The bank has since initiated corrective actions and made submission for relaxation of the restrictions," the RBI said.

from Banking/Finance-Industry-Economic Times https://ift.tt/CcsUSfQ