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SBM bank
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| Dear Customer, |
| Reserve Bank of India vide its order dated January 23, 2023, has directed SBM Bank (India) Ltd. to stop, with immediate effect, all transactions under the Liberalised Remittance Scheme (LRS) till further orders. The Bank is engaging with RBI to address certain supervisory concerns at the earliest. |
| We would like to state that SBM Bank (India) Ltd. is committed to upholding the highest standard of banking. |
| SBM Bank (India) Ltd. remains open for business in all other areas.
How much money is safe with this bank? RBI slapped a fine of 3 crores last year on some violations. |
Expired
