New Delhi: The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 1,40,76,000 on Bank of India for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’, ‘Customer Service in Banks’, ‘Interest Rate on Advances’, ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting’, and ‘Membership of Credit Information Companies (CICs)’ and contravention of provisions of Credit lnformation Companies Rules, 2006 (ClC Rules).
COMMERCIAL BREAKSCROLL TO CONTINUE READING”This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of section 47 A (1) (c) read with sections 46 (4)…
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