The Karur Vysya Bank Limited announced that the Reserve Bank of India (RBI) imposed monetary penalty of INR 10,000/- for the deficiencies observed during inspection at currency chest and INR 2,150/- for the deficiencies observed during processing of soiled note remittances. This penalty has been imposed in accordance with Master Direction DCM (CC) No.G3/03.44.01/2023-24 dated April 03, 2023 on "Scheme of penalties for bank branches and currency chests for deficiency in rendering customer service to the members of public".