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The Reserve Bank of India fined Bank of India ₹1.4 crore and Bandhan Bank ₹29.55 lakh for regulatory non-compliance.
The Reserve Bank of India has fined Bank of India ₹1.4 crore and Bandhan Bank ₹29.55 lakh for non-compliance with specific regulatory norms.
The penalties are due to deficiencies in regulatory compliance and do not affect the validity of transactions or agreements entered into by the institutions with their customers.
Bank of India was penalized for not adhering to the RBI's directions on interest rates for deposits and advances, customer service, and contravening provisions of Credit Information Companies Rules, 2006.
Bandhan Bank was fined for non-compliance with certain RBI directions.
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El Banco de la Reserva de la India multó al Banco de la India con 1,4 millones de rupias y al Bandhan Bank con 29,55 lakh de rupias por incumplimiento normativo.