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The central bank imposed a penalty of Rs 5 crore on Citibank, Rs 4.34 crore on Bank of Baroda, and Rs 1 crore on Indian Overseas Bank, it said in different press releases.
The penalties, amounting to crores of rupees, were imposed following an assessment of the banks' adherence to RBI guidelines and directives, , reserve bank of india, rbi intervention
Mumbai: The Reserve Bank of India (RBI) on Friday slapped monetary fines on Citibank, Bank of Baroda, and Indian Overseas Bank for violations of regulations.
Additionally, the review may explore claw back of payouts to CEOs and key management personnel (KMP)
Reserve Bank of India (RBI) on Thursday said that it has imposed a penalty of Rs 90.93 lakh on Axis Bank for breach of norms.