RBI has imposed a penalty of Rs 1.40 crore on the Bank of India
Team Current Hunt
RBI has imposed a penalty of Rs 1.40 crore on the Bank of India.
The RBI has imposed a penalty for non-compliance with its directions on ‘Interest Rate on Deposits’, ‘Customer Service in Banks’, ‘Interest Rate on Advances’, and others.
The penalty is also for non-compliance with RBI’s directions on ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting’, and ‘Membership of Credit Information Companies (CICs)’.
The penalty is also for contravention of provisions of the Credit Information Companies Rules, 2006 (ClC Rules).
A monetary penalty of Rs 29.55 lakh has been imposed by the RBI on Bandhan Bank.
The RBI has imposed this penalty for non-compliance with directions relating to the interest rate on deposits.
The RBI also placed a penalty of Rs 13.60 lakh on Indostar Capital Finance.
