Central Bank of India fined Rs 1.45 crore for violating norms

Chandigarh, June 14 The Reserve Bank of India imposed a monetary penalty of Rs 1.45 crore on Central Bank of India for non-compliance with certain regulatory norms. The action is based on deficiencies in regulatory compliance. Based on supervisory findings...

Tribune News Service

Updated At : 02:05 PM Jun 15, 2024 IST

Chandigarh, June 14

The Reserve Bank of India imposed a monetary penalty of Rs 1.45 crore on Central Bank of India for non-compliance with certain regulatory norms. The action is based on deficiencies in regulatory compliance.

Based on supervisory findings of non-compliance with RBI directions and related correspondence, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the directions.

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