RBI slaps Rs 1 cr penalty each on three public sector banks

Mumbai, Sep 7 (IANS) The Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore each on three public sector banks for non-compliance with its directions on “Fraud – Classification and Reporting”.

According to the RBI, the penalty was imposed individually on all the three banks — Bank of Maharashtra, Bank of India, Union Bank of India — on August 30, 2018.

The apex bank took into account the delay on the part of these banks in reporting fraud in certain accounts.

Medaram Jathara

Connect with us



© 2012 - 2016 VIL Media Pvt Ltd. All rights reserved,
Contents of v6news.tv are copyright protected.Copy and/or reproduction and/or re-use of contents or any part thereof,
without consent of VIL Media is illegal.Such persons will be prosecuted.