New Delhi, Jul 24: The Lok Sabha on Friday, Jul 24 learned that banks like ICICI, Bank of Baroda, Dena Bank, HSBC Bank and Centurion Bank of Punjab Ltd have violated Reserve Bank of India guidelines.
ICICI Bank in particular has violated the norms twice.
The bank which breached the RBI directives on the opening of deposit accounts was issued 'Advisory Note" in December 2007 and a Letter of Warning in April 2008 for its irregular dealings in securities in Hong Kong, Pranab Mukherjee said in a written reply.
These violations led to fraudsters opening fictitious accounts at the bank"s Patna branch.
The Finance Minister also said that all the other above mentioned banks have been issued with letters of displeasure by the RBI for violating FEMA guidelines or with regard to opening of deposit accounts.