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Reserve Bank of India fines Citi, Barclays and Deutsche amongst others, for mis-selling derivatives

The Reserve Bank of India (RBI) announced on Tuesday that it had imposed fines on 19 banks for violating derivatives norms. The list of errant banks includes State Bank of India, the country’s largest public sector lender, ICICI Bank, the country’s largest private sector lender as well as foreign banks such as Citibank, Barclays, Credit Agricole, RBS, Standard Chartered, RBS,…

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