1. RBI SLAMS BANKS ON POOR COMPLIANCE Reserve Bank deputy governor MK Jain Tuesday slammed banks for poor compliance with regulations, and pointed out that high value frauds and fines are a

result of their lackadaisical attitude on this. Jain said in some cases, the lack of compliance has been “recurring”, wherein banks have also ignored RBI’s instructions to commit the same

mistakes time and again. “Despite the benefits offered for good compliance culture and the cost of poor conduct, the compliance culture at banks is far from satisfactory,” Jain, the

commercial-banker-turned-central-banker, said speaking at the annual industry conference Fibac. (Source: _Financial Express_)