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The Reserve Bank of India (RBI) on March 13 said it has imposed monetary penalty on two banks and one non-banking finance company for rule violations. These banks are Bandhan Bank and Bank of India, and the NBFC is Indostar Capital Finance.
The central bank imposed around Rs 1.41 crore (Rs 1,40,76,000) on Bank of India, Rs 29.55 lakh on Bandhan Bank, and Rs 13.60 lakh on Indostar Capital Finance, according to a press release.
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Bank of India was penalised as it…
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